Showing 1 - 10 of 26
Discrete choice models are appealing for airline revenue management (RM) because they offer a means to profitably exploit preferences for attributes such as time of day, routing, brand, and price. They are also good at modeling demand for unrestricted fare class structures, which are widespread...
Persistent link: https://www.econbiz.de/10009218667
We analyze a dynamic auction, in which a seller with C units to sell faces a sequence of buyers separated into T time periods. Each group of buyers has independent, private values for a single unit. Buyers compete directly against each other within a period, as in a traditional auction, and...
Persistent link: https://www.econbiz.de/10009218445
No abstract available.
Persistent link: https://www.econbiz.de/10009218679
We consider a revenue management, network capacity control problem in a setting where heterogeneous customers choose among the various products offered by a firm (e.g., different flight times, fare classes, and/or routings). Customers may therefore substitute if their preferred products are not...
Persistent link: https://www.econbiz.de/10009218847
We consider a multi-supplier, single-manufacturer supply chain where each supplier sells a different component at varying quality levels. The manufacturer has to decide on which quality level to choose for each component, trading-off the total cost and total quality. Each supplier decides on a...
Persistent link: https://www.econbiz.de/10010603190
Customer choice behavior, such as 'buy-up' and 'buy-down', is an important phe-nomenon in a wide range of industries. Yet there are few models or methodologies available to exploit this phenomenon within yield management systems. We make some progress on filling this void. Specifically, we...
Persistent link: https://www.econbiz.de/10005772200
Bid-prices are becoming an increasingly popular method for controlling the sale of inventory in revenue management applications. In this form of control, threshold---or "bid"---prices are set for the resources or units of inventory (seats on flight legs, hotel rooms on specific dates, etc.) and...
Persistent link: https://www.econbiz.de/10009197653
Consider a category of product variants distinguished by some attribute such as color or flavor. A retailer must construct an assortment for the category, i.e., select a subset variants to stock and determine purchase quantities for each offered variant. We analyze this problem using a...
Persistent link: https://www.econbiz.de/10009197681
Customer choice behavior, such as buy-up and buy-down, is an important phenomenon in a wide range of revenue management contexts. Yet most revenue management methodologies ignore this phenomenon---or at best approximate it in a heuristic way. In this paper, we provide an exact and quite general...
Persistent link: https://www.econbiz.de/10009204289
We investigate a simple adaptive approach to optimizing seat protection levels in airline revenue management systems. The approach uses only historical observations of the relative frequencies of certain seat-filling events to guide direct adjustments of the seat protection levels in accordance...
Persistent link: https://www.econbiz.de/10009208568