Natural Resource Revenue Management: Which Institutional Factors Matter?

Institutional Quality, Natural Resource Rent, and Shadow Economy

Natural resource rent affects countries’ economies through various channels. Revenues from the natural resources sales are expected to boost countries' economic growth, but the economic experience of recent decades reveals the numerous economic problems in these countries, the most important of which may be the increase in the shadow economy size. Moreover, the institutions specify the signific...

Revenue Management in Resource Exchange

Institutional Failure in Resource Management

Many of the world’s natural resources are in a state of crisis. The solution to this crisis is to develop effective management institutions, but there is no consensus on what those institutions are. Some economists favor solving resource-management problems through the institution of private property; others advocate central government control; and many anthropologists see local-level managemen...

Resource and Revenue Management in Nonprofit Operations

Nonprofit firms sometimes engage in for-profit activities with the sole purpose of generating revenue to subsidize their mission activities. The organization is then confronted with a consumption vs. investment trade-off. Investment corresponds to the allocation of capacity for revenue customers, while consumption corresponds to serving mission customers. We model this problem as a multi-period...

A single-resource revenue management problem with random resource consumptions

We study a single-resource multi-class revenue management problem where the resource consumption for each class is random and only revealed at departure. The model is motivated by cargo revenue management problems in the airline and other shipping industries. We study how random resource consumption distribution affects the optimal expected profit and identify a preference acceptance order on c...