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44 Resources for

revenue management

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The Origin of revenue management: Let's face it: revenue management is just a palatable way of saying "how to make the greatest possible amount of money," and even that's a little diplomatic. Revenue management, often called yield management, is the practice of dynamic pricing to help solve supply-allocation problems. And American Airlines was first to...; Tags: Operational accounting, Andrew Hines, revenue management; Blog posts 2007-05-31
Dynamic revenue management With Negotiated Prices: The authors have considered the classical revenue management setting of a seller who owns a finite inventory of a single product that can be sold during a finite number of time periods. In each time period there is a positive probability of a single buyer arrival, i.e., the seller faces...; Tags: Operational accounting, Free trade, Carnegie-Mellon University, revenue management, negotiation, valuation, benefit; White papers 2007-06-01
Customer Behavior Modeling In revenue management And Auctions: A Review And New Research Opportunities: Customer behavior modeling has been gaining increasing attention in the operations management community. It is vital to correctly modeling customer behavior, as a poor understanding of customer behavior can lead to suboptimal decisions with financial implications. This paper reviews current models of customer behavior in the revenue management and auction...; Tags: Research & Development, Operational accounting, revenue management, modeling, financial; White papers 2007-05-25
A Column Generation Algorithm For Choice-Based Network revenue management: In the last few years, there has been a trend to enrich traditional revenue management models built upon the independent demand paradigm by accounting for customer choice behavior. This extension involves both modeling and computational challenges. This paper considers the Choice-based, Deterministic, Linear Programming model (CDLP) of Gallego et al.,...; Tags: Engineering, Operational accounting, New York Stock Exchange, revenue management, algorithm, modeling, accounting, network; White papers 2007-04-30
revenue management For Products With Unknown Quality And Observable Price And Sales History: This paper studies pricing strategies of a monopolist when customers are strategic and infer the product quality from historical sales and price paths. This behavior may be expected when selling a new, innovative product whose quality is unknown and customers have some, but, imperfect information about the product quality. The...; Tags: Carnegie-Mellon University, Product Quality, Pricing Strategy, Revenue Management, Pricing, Marketing Research, Sales Strategy, Operational Accounting, Marketing, Sales, Finance; White papers 2007-03-01

A Monopolistic And Oligopolistic Stochastic Flow revenue management Model: This paper studies a one-shot inventory replenishment problem with dynamic pricing. The customer arrival rate is assumed to follow a geometric Brownian motion. Homogeneous customers have an isoelastic demand function and do not behave strategically. A closed-form optimal pricing policy is found, which utilizes current demand information. Under this pricing...; Tags: Pricing, Marketing research, pricing strategy, Bayesian, game; White papers 2006-11-01
Some Decomposition Methods For revenue management: Working within a Markov Decision Process (MDP) framework, the authors have studied revenue management policies that combine aspects of mathematical programming approaches and pure MDP methods by decomposing the problem by time, state, or both. The "Time decomposition" policies employ heuristics early in the booking horizon, and switch to a...; Tags: Operational accounting, University of Minnesota, revenue management, formulation, programming; White papers 2006-10-23
Models Of The Spiral-Down Effect In revenue management: The spiral-down effect occurs when incorrect assumptions about customer behavior cause high-fare ticket sales, protection levels, and revenues to systematically decrease over time. If an airline decides how many seats to protect for sale at a high fare based on past high-fare sales, while neglecting to account for the fact...; Tags: Sales strategy, Sales force management, Operational accounting, revenue management, sales; White papers 2006-09-01
Research Prospects On Business-To-Business revenue management: Revenue management and electronic distribution-systems have emerged as powerful decision and information technologies to support the management of demand for a company's products. Important applications include the management of commercial reservation processes in the airline, travel, and hospitality industries, and dynamic pricing of inventory in retail chains. Consequently, revenue management...; Tags: Operational accounting, Carnegie-Mellon University, revenue management, operations management, B2B, B2C, pricing strategy, information technology; White papers 2006-06-01
Applying revenue management To Agent-Based Transportation Planning: This paper explains a multi-company, less-than-truckload, dynamic Vehicle Routing Problems (VRP) based on the concept of multi-agent systems. We focus on the intelligence of one vehicle agent and especially on its bidding strategy. We address the problem how to price loads that are offered in real-time such that available capacity...; Tags: Operational accounting, revenue management, agent, transportation; White papers 2006-05-19
Joint Pricing And revenue management With General Stochastic Demand: We extend the traditional revenue management paradigm to simultaneously optimize price and inventory decisions across three phases of the revenue management process: capacity investment, product design and inter-temporal segmentation. We solve these problems under very general demand assumptions, which explain, unify and generalize state of the art models of stochastic...; Tags: Operational accounting, revenue management, product design, allocation, pricing strategy, sales; White papers 2005-07-04
Addressing New Challenges in Tax and revenue management: In 1998, the U.S. Internal Revenue Service embarked on an ambitious modernization strategy that outlined re-engineering efforts intended to automate and eliminate redundant processes, improve productivity and free up staff time that could be redirected to taxpayer service and compliance programs. This article examines the IRS' progress to date and...; Tags: Taxes, Free trade, Internal Revenue Service, revenue management, compliance, tax, re-engineering; White papers 2005-05-02
revenue management & Delay Tactics For Competing Service Providers In Time-Sensitive Markets With Private Information: How should competing firms design their price-scheduling mechanisms to maximize revenues from heterogeneous time-sensitive customers with private information about their value of service and delay tolerance? This question is considered for duopoly firms, modeled as queueing systems, which serve two customer types. Price-delay is studied equilibria in this setting, particularly...; Tags: Operational accounting, Northwestern University, revenue management, incentive; White papers 2005-05-01
The Psychology of revenue management: Impact of Familiarity, Framing and Fencing Condition on the Perceived Fairness of Rate Fences: Revenue management (RM) has been practiced in the airline, hotel and car rental industries for over 15 years, and has more recently attracted attention in other industries, including broadcasting, golf, health care and restaurants. Perceived fairness is a serious concern for revenue managers who like to use a range of...; Tags: Operational accounting, Cornell University, revenue management, familiarity, fairness, broadcasting, industry, health care; White papers 2004-12-14
Relationships Among Three Assumptions In revenue management: This paper discusses the relationships among three assumptions that appear frequently in the pricing/revenue management literature. These assumptions are mostly needed for analytical tractability, and they have the common property of ensuring a well-behaved "Revenue function." The three assumptions are decreasing marginal revenue with respect to demand, decreasing marginal revenue...; Tags: Operational accounting, revenue management, revenue; White papers 2004-09-01
The Impact of Effective revenue management in the Telecommunications Sector: One of the biggest issues for telecommunications operators today is the problem of revenue management and debt collection. When companies are competing aggressively to capture new customers or simply retain existing subscribers, the "race for base" can often obscure the fact that huge customer numbers can also lead to huge...; Tags: Operational accounting, Telephony, revenue management, telecommunications; White papers 2004-08-01
Structural Properties Of Network revenue management Models: An Economic Perspective: Many revenue management problems have a network aspect. This paper argues that a network can be thought of as a system of substitutable and complementary products, and the value of a revenue management model should be supermodular or submodular in the availability of two resources as the resources are economic...; Tags: Operational accounting, London School of Economics, revenue management, network; White papers 2004-05-01
Gaining Greater Business Benefit From the Utilisation of Technology Within the Customer revenue management Function: Despite extensive deployment of IT to assist in the collection of overdue revenue over the past five years, there is evidence to suggest that the technology could be applied far more effectively. This white paper examines current technology usage; reviews the important results of an annual credit industry survey into...; Tags: Strategy, information technology, benefit, industry, tool; White papers 2004-04-27
An Evaluation of Guests Preferred Incentives to Shift Time-Variable Demand in Restaurants: Since the operational elements of restaurants differ from those of airlines and hotels, restaurants cannot simply apply the same revenue management strategies as those used by airlines and hotels. To provide an enhanced understanding of how to use revenue management in restaurants, this article first provides a brief overview of...; Tags: Operational accounting, Cornell University, revenue management, incentive, strategy; White papers 2004-02-01
Dynamic Pricing Strategies for Multi-Product revenue management Problems: "Consider a monopolist firm that owns a fixed capacity of a resource that is consumed in the production of multiple products. There is a finite horizon over which the resource must be used, and the firm's problem is to choose a dynamic pricing strategy for each product in order to...; Tags: Pricing, Marketing research, Operational accounting, pricing strategy, revenue management, allocation, revenue, strategy; White papers 2003-07-21