Revenue Management and Pricing Analytics by Guillermo Gallego & Huseyin Topaloglu

Author:Guillermo Gallego & Huseyin Topaloglu
Language: eng
Format: epub
ISBN: 9781493996063
Publisher: Springer New York

while capacity is positive, and switching to E 0 = ∅ when capacity is exhausted. When z(T, c) > 0, we have ΛΠ a(T,c) ≥ c, so the bid-price heuristic is likely to exhaust capacity before the end of the horizon. An obvious refinement is to compute a(t j, x j) at reading dates T = t 1 > t 2 > … > t J > t J+1 = 0 and to offer the set

over time interval (t j+1, t j], where , and

and a(t j, x j) := k + 1 if ρ j > Π k. This refinement helps curb sales at marginal fares.

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