Revenue management (RM) plays a vital role to optimize sales processes in real-life applications under incomplete information. The prediction of consumer demand and the anticipation of price reactions of competitors became key factors in RM to be able to apply classical dynamic programming (DP)...

We suggest a dynamic pricing model for selling extra seats - seat reservations for unoccupied seats that provide additional space alongside regular reservations. Such extra space tickets share the resources of the main product and leverage the unused capacity, offering significant...