Pricing-Based Revenue Management for Flexible Products on a Network - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Pricing-Based Revenue Management for Flexible Products on a Network write by Dirk Sierag. This book was released on 2016. Pricing-Based Revenue Management for Flexible Products on a Network available in PDF, EPUB and Kindle. This paper proposes and analyses a pricing-based revenue management model that allows flexible products on a network, with a non-trivial extension to group reservations. Under stochastic demand the problem can be solved using a dynamic programming formulation, though it suffers from the curse of dimensionality. The solution under deterministic demand gives an upper bound on the stochastic problem, and serves as a basis for two heuristics, which are asymptotically optimal. Numerical studies show that the heuristics perform well, even under uncertainty in demand. Moreover, neglecting flexible products can lead to substantial revenue loss.
Revenue Management with Flexible Products
Revenue Management with Flexible Products - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Revenue Management with Flexible Products write by Michael Müller-Bungart. This book was released on 2007-09-18. Revenue Management with Flexible Products available in PDF, EPUB and Kindle. This book analyzes revenue management (RM) problems with flexible products and RM in broadcasting companies. It presents models and methods that explicitly take the implications of flexibility into account. In addition, it contains descriptions of algorithms to generate stochastic demand data streams for general RM problems. To help readers with their own simulation studies, it provides an implementation as a Microsoft Windows executable file.
Pricing and Revenue Optimization
Pricing and Revenue Optimization - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Pricing and Revenue Optimization write by Robert Phillips. This book was released on 2005-08-05. Pricing and Revenue Optimization available in PDF, EPUB and Kindle. This is the first comprehensive introduction to the concepts, theories, and applications of pricing and revenue optimization. From the initial success of "yield management" in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimize pricing has become increasingly important across many different industries. But, since pricing and revenue optimization has involved the use of sophisticated mathematical techniques, the topic has remained largely inaccessible to students and the typical manager. With methods proven in the MBA courses taught by the author at Columbia and Stanford Business Schools, this book presents the basic concepts of pricing and revenue optimization in a form accessible to MBA students, MS students, and advanced undergraduates. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. Solutions to the end-of-chapter exercises are available to instructors who are using this book in their courses. For access to the solutions manual, please contact [email protected].
Online Learning and Pricing for Network Revenue Management with Reusable Resources
Online Learning and Pricing for Network Revenue Management with Reusable Resources - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Online Learning and Pricing for Network Revenue Management with Reusable Resources write by Huiwen Jia. This book was released on 2022. Online Learning and Pricing for Network Revenue Management with Reusable Resources available in PDF, EPUB and Kindle. We consider a price-based network revenue management problem with multiple products and multiple reusable resources. Each randomly arriving customer requests a product (service) that needs to occupy a sequence of reusable resources (servers). We adopt an incomplete information setting where the firm does not know the price-demand function for each product and the goal is to dynamically set prices of all products to maximize the total expected revenue of serving customers. We propose novel batched bandit learning algorithms for finding near-optimal pricing policies, and show that they admit a near-optimal cumulative regret bound of $ tilde{O}(J sqrt{XT})$, where $J$, $X$, and $T$ are the numbers of products, candidate prices, and service periods, respectively. As part of our regret analysis, we develop the first finite-time mixing time analysis of an open network queueing system (i.e., the celebrated Jackson Network), which could be of independent interest. Our numerical studies show that the proposed approaches perform consistently well.
Revenue Management and Pricing Analytics
Revenue Management and Pricing Analytics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Revenue Management and Pricing Analytics write by Guillermo Gallego. This book was released on 2019-08-14. Revenue Management and Pricing Analytics available in PDF, EPUB and Kindle. “There is no strategic investment that has a higher return than investing in good pricing, and the text by Gallego and Topaloghu provides the best technical treatment of pricing strategy and tactics available.” Preston McAfee, the J. Stanley Johnson Professor, California Institute of Technology and Chief Economist and Corp VP, Microsoft. “The book by Gallego and Topaloglu provides a fresh, up-to-date and in depth treatment of revenue management and pricing. It fills an important gap as it covers not only traditional revenue management topics also new and important topics such as revenue management under customer choice as well as pricing under competition and online learning. The book can be used for different audiences that range from advanced undergraduate students to masters and PhD students. It provides an in-depth treatment covering recent state of the art topics in an interesting and innovative way. I highly recommend it." Professor Georgia Perakis, the William F. Pounds Professor of Operations Research and Operations Management at the Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts. “This book is an important and timely addition to the pricing analytics literature by two authors who have made major contributions to the field. It covers traditional revenue management as well as assortment optimization and dynamic pricing. The comprehensive treatment of choice models in each application is particularly welcome. It is mathematically rigorous but accessible to students at the advanced undergraduate or graduate levels with a rich set of exercises at the end of each chapter. This book is highly recommended for Masters or PhD level courses on the topic and is a necessity for researchers with an interest in the field.” Robert L. Phillips, Director of Pricing Research at Amazon “At last, a serious and comprehensive treatment of modern revenue management and assortment optimization integrated with choice modeling. In this book, Gallego and Topaloglu provide the underlying model derivations together with a wide range of applications and examples; all of these facets will better equip students for handling real-world problems. For mathematically inclined researchers and practitioners, it will doubtless prove to be thought-provoking and an invaluable reference.” Richard Ratliff, Research Scientist at Sabre “This book, written by two of the leading researchers in the area, brings together in one place most of the recent research on revenue management and pricing analytics. New industries (ride sharing, cloud computing, restaurants) and new developments in the airline and hotel industries make this book very timely and relevant, and will serve as a critical reference for researchers.” Professor Kalyan Talluri, the Munjal Chair in Global Business and Operations, Imperial College, London, UK.
