Itinerary-based nesting control with upsellJournal of Revenue and Pricing Management - Tập 15 - Trang 107-137 - 2016
Chan Seng Pun, Diego Klabjan, Fikri Karaesmen, Sergey Shebalov
In order to accept future high-yield booking requests, airlines protect seats
from low-yield passengers. More seats may be reserved when passengers faced with
closed fare classes can upsell to open higher fare classes. We address the
airline revenue management problem with capacity nesting and customer upsell,
and formulate this problem by a stochastic optimization model to determine a set
of stat... hiện toàn bộ
On the selection of relevant historical demand data for revenue management applied to transportationJournal of Revenue and Pricing Management - Tập 22 - Trang 266-275 - 2022
Ernst Ahlberg, Irina Mirkina, Alfred Olsson, Christian Söyland, Lars Carlsson
The success of revenue management models depends to a large extent on the
quality of historical data used to forecast future bookings. Several theoretical
models and best practices of handing historical data have been developed over
the years, that all rely on assumptions about underlying distribution and
seasonality in the historical data. In this paper, we describe a novel method
that compares t... hiện toàn bộ
A combined algorithm for selection of optimal bidder(s)Journal of Revenue and Pricing Management - - Trang 1-15 - 2023
J. Ravichandran, B. Vanishree
Organizations (manufacturing, service, healthcare etc.) buy goods and services
for their operational needs from reliable and subject-optimized companies
frequently. In fact, procurement processes follow stringent procedures to ensure
that the process is fair and efficient with a minimal wastage of resources. The
main challenge of all such procurement processes is the selection of optimal
bidder(s)... hiện toàn bộ
Name-your-own price auction mechanisms – Modeling and future implicationsJournal of Revenue and Pricing Management - Tập 10 - Trang 32-39 - 2010
Chris K Anderson, John G Wilson
A popular method for selling excess inventory over the Internet is via a
Name-Your-Own Price auction, where the bidder bids on an item and the seller
immediately decides on whether or not to accept the bid. The analytical modeling
of such auctions is still in its infancy. A number of papers have appeared over
the last few years making various assumptions about buyers and sellers. The
intent of thi... hiện toàn bộ
Technology- and human-intensiveness in room rate-setting: A study of four styles among Asia-Pacific hotelsJournal of Revenue and Pricing Management - Tập 12 - Trang 177-200 - 2012
Lewis K S Lim, Sheryl E Kimes
Room rate-setting is a complex and challenging task that carries many financial
and non-financial consequences for hotels. The extent to which a hotel
emphasizes technology and/or human processes defines its rate-setting style. A
survey of 170 hotels in the Asia-Pacific region reveals that hotels generally
practice four major rate-setting styles. The style varies not only across hotels
but also am... hiện toàn bộ
Choice-based EMSR methods for single-leg revenue management with demand dependenciesJournal of Revenue and Pricing Management - Tập 8 - Trang 207-240 - 2009
Guillermo Gallego, Lin Li, Richard Ratliff
Revenue management (RM) based on customer choice models has gained interest in
the 21st century. Changes in airline distribution strategies and improvements in
online search engines have resulted in fierce competition, fare transparency and
greater usage of restriction-free pricing. Existing solutions to RM with
restriction-free pricing have proven ineffective and use either ad hoc
adjustments to ... hiện toàn bộ
A cabin capacity allocation model for revenue management in the cruise industryJournal of Revenue and Pricing Management - Tập 18 - Trang 441-450 - 2019
Daniel Sturm, Kathrin Fischer
The cruise industry is a profitable field for the application of revenue
management methods. Existing model formulations for booking limit determination
usually assume that the different elements of booking requests are independent.
In this work, it is shown that this approach can lead to non-feasible capacity
allocations, which consequently are neither optimal nor applicable in practical
planning... hiện toàn bộ
Promoting demand-based pricingJournal of Revenue and Pricing Management - Tập 18 - Trang 42-51 - 2017
Ronald B. Larson
Applied economists have been trying to sell businesses on the value of
demand-based pricing for many years. Their arguments promoting demand-based
pricing have not been particularly persuasive and cost-based pricing continues
to be a dominant price-setting method. This paper suggests four changes that may
lead more firms to use demand principles when they set prices. Applied
economists should ackn... hiện toàn bộ