Dynamic Revenue Management in Airline Alliances
Transportation Science
Dynamic selling of quality-graded products under demand uncertainties
Computers and Industrial Engineering
A pricing model for a service inventory system when demand is price and waiting time sensitive
ICCSA'05 Proceedings of the 2005 international conference on Computational Science and Its Applications - Volume Part IV
Risk-sensitive dynamic pricing for a single perishable product
Operations Research Letters
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Consider a multiple bo oking class airline-seat inventory control problem that relates to either a single flight leg or to multiple flight legs. During the time before the flight, the airline may face the problems of (1) what are the suitable prices for the opened booking classes, and (2) when to close those opened booking classes. This work deals with these two problems by only using the pricing policy. In this paper, a dynamic pricing model is developed in which the demand for tickets is modeled as a discrete time stochastic process. An important result of this work is that the strategy for the ticket booking policy can be reduced to sets of critical decision periods, which eliminates the need for large amounts of data storage.