Life satisfaction can be assessed either globally or with regard to satisfaction with specific domains of life. The latter multidimensional approach presumes science has delineated with confidence the specific domains most relevant to evaluating whether the criteria for a good life have been...

Revenue management for airlines strives to maximise revenue as the sum of fares earned through customer bookings. Since the internet enables customers to make more informed choices and low-cost carriers introduced the concept of restriction-free fares, forecasting for airline revenue management...

In this article, we compare Markov Decision Process (MDP) to expected marginal seat revenue b (EMSRb) under realistic demand behaviour by implementing both in a stochastic simulation model. First come first served as well as an upper bound, serves for reference. We give a short explanation of...

Revenue management for airlines strives to maximise revenue as the sum of fares earned through customer bookings. Since the internet enables customers to make more informed choices and low-cost carriers introduced the concept of restriction-free fares, forecasting for airline revenue management...

In this article, we compare Markov Decision Process (MDP) to expected marginal seat revenue b (EMSRb) under realistic demand behaviour by implementing both in a stochastic simulation model. First come first served as well as an upper bound, serves for reference. We give a short explanation of...

Traditionally, two variants of the L-shaped method based on Benders’ decomposition principle are used to solve two-stage stochastic programming problems: the aggregate and the disaggregate version. In this study we report our experiments with a special convex programming method applied to the...

In this paper, we sketch some of the challenges that should be addressed in future research efforts for model-based decision support in manufacturing and service networks. This includes integration issues, taking into account the autonomy of the decision-making entities in face of information...