Titlebook: Risk-Averse Capacity Control in Revenue Management; Christiane Barz Book 2007 Springer-Verlag Berlin Heidelberg 2007 Expected Utility Theo

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Basic Single Resource Capacity Control Models in Revenue Managements i) to xi) mentioned in Sect. 1.1.1; they differ only in the assumptions concerning the arrival process. Static capacity control models assume that demand for the different booking classes arrives in non-overlapping periods. Dynamic capacity control models allow passengers to arrive in any order. In turn, they assume demand to be Markovian.

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0075-8442 wn as yield management) is the couple’s golden child – at least as far as operations research is concerned.” (Horner, 2000, p. 47) Deregulation had a signi?cant impact on the U.S. airline industry in the late 1970s. Charter and low-cost airlines such as People Express and Southwest wereabletoo?ersea

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Introductionst were able to offer seats at a fraction of the price charged by established carriers like Pan Am and American Airlines. Due to their different cost structure, it seemed to be impossible for the big carriers to offer tickets at the same low price. Yet they had to find a way to compete.

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Markov Decision Processes and the Total Reward Criterionng set. Finite horizon models are used in Chap. 5. In addition, they serve as a starting point for the discussion on sequential utility maximizing decision problems in Chap. 3. The results on infinite horizon models are applied in 4. Since discounting is generally not considered in capacity control

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Expected Utility Theory for Sequential Decision Making could give rise to more than one possible outcome with different probabilities. As in Chap. 2, however, the main intention is to clarify notation and to state results that will be used in the following chapters, not to give a complete overview on expected utility theory. For a general introduction

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冥界三河

Robust

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Capacity Control in a Random Environmenthe customer is interested in) and the booking class . with reward . that is offered for each of the . reservations. It must be decided how many of these requested reservations should be actually sold.

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