Revenue Management Under a General Discrete Choice Model of Consumer Behavior
نویسندگان
چکیده
منابع مشابه
Revenue Management Under a General Discrete Choice Model of Consumer Behavior
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 analysis of this problem. Specifically, we analyze a single-leg yield management problem in which t...
متن کاملStochastic Comparisons in Revenue Management under a Discrete Choice Model of Consumer Behavior
Abstract This study examines the monotonicity properties of expected revenue in a revenue management problem with respect to the consumers’ choice behavior and the market size. The consumer behavior is described by a general discrete choice model. The firm decides which subset of fare products to offer at each time period. An example shows that the usual stochastic order relation in consumers’ ...
متن کاملSolving Bi-objective Model of Hotel Revenue Management Considering Customer Choice Behavior Using Meta-heuristic Algorithms
The problem of maximizing the benefit from a specified number of a particular product with respect to the behavior of customer choices is regarded as revenue management. This managerial technique was first adopted by the airline industries before being widely used by many others such as hotel industries. The scope of this research is mainly focused on hotel revenue management, regarding which a...
متن کاملRevenue Management under a Nonparametric Ranking Based Choice Model
We consider revenue management problems when customers choose among the offered products according to a nonparametric ranking-based choice model. Under this nonparametric choice model, each customer class is distinguished by a unique ranking of the available products and an arrival probability. Given the arrival of a customer from a particular customer class, this customer will purchase the hig...
متن کاملComputing Bid Prices for Revenue Management Under Customer Choice Behavior
W consider a choice-based, network revenue management (RM) problem in a setting where heterogeneous customers consider an assortment of products offered by a firm (e.g., different flight times, fare classes, and/or routes). Individual choice decisions are modeled through an ordered list of preferences, and minimal assumptions are made about the statistical properties of this demand sequence. Th...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Management Science
سال: 2004
ISSN: 1526-5501
DOI: 10.1287/mnsc.50.1.15.27054