Optimal policies of yield management with multiple predetermined prices

Operations Research

Volumn 48, Issue 2, 2000, Pages 332-343

  Feng, Youyi ^a   Xiao, Baichun ^a  

^a NATIONAL UNIVERSITY OF SINGAPORE   (Singapore)

Author keywords

[No Author keywords available]

Indexed keywords

INVENTORY CONTROL; MARKOV PROCESSES; MATHEMATICAL MODELS; OPERATIONS RESEARCH; POISSON DISTRIBUTION;

CONTINUOUS TIME MODEL; MONOTONICITY; OPTIMAL POLICY; PIECEWISE CONCAVITY; STOCHASTIC MODEL DYNAMIC POINT PROCESS;

OPTIMIZATION;

EID: 0034156186     PISSN: 0030364X     EISSN: None     Source Type: Journal    
DOI: 10.1287/opre.48.2.332.13373     Document Type: Article

References (29)

1. Bassok, Y., R. Ernst. 1995. Dynamic allocations for multiproduct distribution. Transp. Sci. 29(3) 256-266.
2. Belobaba, P. P. 1987. Airline yield management: an overview of seat inventory control. Transp. Sci. 21 63-73.
3. _. 1989. Application of a probabilistic decision model to airline seat inventory control. Oper. Res. 37 183-197.
4. Bitran, G. R., S. M. Gilbert. 1996. Managing hotel reservations with uncertain arrivals. Oper. Res. 44 35-49.
5. Brumelle, S. L., J. I. McGill, T. H. Oum, K. Sawaki, M. W. Tretheway. 1990. Allocation of airline seats between stochastically dependent demand. Transp. Sci. 24 183-192.
6. Curry, R. 1990. Optimal seat allocation with fare classes nested by origins and destinations. Transp. Sci. 24 193-204.
7. Feldman, J. M. 1991. To rein in those CRSs. Air Transport World 28(12) 89-92.
8. Feng, Y. 1994. Continuous time models on perishable asset revenue management. Ph.D. Dissertation, Department of Industrial Engineering and Operations Research, Columbia University, New York.
9. _, G. Gallego. 1995. Optimal stopping times for end of season sales and optimal stopping times for promotional fares. Management Sci. 41 1371-1391.
10. _, _. 1996. Perishable asset revenue management with Markovian time dependent demand intensities. Working Paper, Department of Industrial Engineering and Operations Research, Columbia University, New York.
11. _, B. Xiao. 1999. Maximizing revenue of perishable assets with risk analysis. Oper. Res. 47 337-341.
12. Gallego, G., G. J. van Ryzin. 1994. Optimal dynamic pricing of inventories with stochastic demand over finite horizons. Management Sci. 40 999-1020.
13. Glover, F., R. Glover, J. Lorenzo, C. McMillan. 1982. The passenger-mix problem in the scheduled airlines. Interfaces 12 73-79.
14. Hersh, M., S. P. Ladany. 1978. Optimal seat allocation for flights with one intermediate stop. Comput. Oper. Res. 5 31-37.
15. Karatzas, I., S. E. Shreve. 1988. Brownian Motion and Stochastic Calculus. Springer-Verlag, New York.
16. Karlin, S. 1968. Total Positivity, Volume 1. Stanford University Press, Stanford, CA.
17. Kimes, S. E. 1989. The basics of yield management. Cornell H.R.A. Quarterly 30 14-19.
18. Ladany, S. P., A. Arbel. 1991. Optimal cruise-liner passenger cabin pricing policy. European J. Oper. Res. 55 136-147.
19. Lee, T. C., M. Hersh. 1993. A model for dynamic airline seat inventory control with multiple seat bookings. Transp. Sci. 27 252-265.
20. Liberman, V., U. Yechiali. 1978. On the hotel overbooking problem - an inventory system with stochastic cancellations. Management Sci. 24 1117-1126.
21. Littlewood, K. 1972. Forecasting and control of passengers. 12th AGIFORS Symposium Proc. 103-105.
22. Pfeifer, P. E. 1989. The airline discount fare allocation problem. Decision Sci. 20 149-157.
23. Robinson, L. W. 1994. Optimal and approximate control policies for airline booking with sequential fare classes. Oper. Res. 42 252-263.
24. Rogers, L. C. G., D. Williams. 1987. Diffusions, Markov Processes, and Martingales, Volume 2: It̂ Calculus. John Wiley & Sons, Chichester, New York, Brisbane, Toronto, Singapore.
25. Rothstein, M. 1974. Hotel overbooking as a Markovian sequential decision process. Decision Sci. 5 389-404.
26. Smith, B., J. Leimkuhler, R. Darrow, J. Samules. 1992. Yield management at American Airlines. Interfaces 1 8-31.
27. Soumis, F., A. Nagurney. 1993. A stochastic multiclass airline network equilibrium model. Oper. Res. 41 721-730.
28. Weatherford, L. R., S. E. Bodily. 1992. A taxonomy and research overview of perishable-asset revenue management: yield management, overbooking and pricing. Oper. Res. 40 831-844.
29. Wollmer, R. D. 1992. An airline seat management model for a single leg route when lower fare classes book first. Oper. Res. 40 26-37.