Revenue Management Through Dynamic Cross Selling in E-Commerce Retailing
Operations Research
Stochastic Comparisons in Airline Revenue Management
Manufacturing & Service Operations Management
Dynamic Pricing and Inventory Control of Substitute Products
Manufacturing & Service Operations Management
Data Set---Choice-Based Revenue Management: Data from a Major Hotel Chain
Manufacturing & Service Operations Management
A Column Generation Algorithm for Choice-Based Network Revenue Management
Operations Research
OM Practice---Choice-Based Revenue Management: An Empirical Study of Estimation and Optimization
Manufacturing & Service Operations Management
Joint Dynamic Pricing of Multiple Perishable Products Under Consumer Choice
Management Science
An Improved Dynamic Programming Decomposition Approach for Network Revenue Management
Manufacturing & Service Operations Management
Dynamic Pricing of Limited Inventories When Customers Negotiate
Operations Research
Seat inventory control for sequential multiple flights with customer choice behavior
Computers and Industrial Engineering
Assessing the Value of Dynamic Pricing in Network Revenue Management
INFORMS Journal on Computing
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We consider the simultaneous seat-inventory control of a set of parallel flights between a common origin and destination with dynamic customer choice among the flights. We formulate the problem as an extension of the classic multiperiod, single-flight "block demand" revenue management model. The resulting Markov decision process is quite complex, owing to its multidimensional state space and the fact that the airline's inventory controls do affect the distribution of demand. Using stochastic comparisons, consumer-choice models, and inventory-pooling ideas, we derive easily computable upper and lower bounds for the value function of our model. We propose simulation-based techniques for solving the stochastic optimization problem and also describe heuristics based upon an extension of a well-known linear programming formulation. We provide numerical examples.