Toward Robust Revenue Management: Competitive Analysis of Online Booking

In this paper, we consider the revenue management problem from the perspective of online algorithms. This approach eliminates the need for both demand forecasts and a risk-neutrality assumption. The competitive ratio of a policy relative to a given input sequence is the ratio of the policy's pe...

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Bibliographic Details
Published in:	Operations research Vol. 57; no. 4; pp. 950 - 963
Main Authors:	Ball, Michael O, Queyranne, Maurice
Format:	Journal Article
Language:	English
Published:	Hanover, MD INFORMS 01.07.2009 Institute for Operations Research and the Management Sciences
Subjects:	Airline industry Airlines Algorithms Analysis analysis of algorithms Applied sciences Control theory Determinism Emergency protective orders Exact sciences and technology Firm modelling Inventory control, production control. Distribution inventory/production marketing/pricing Mathematical sequences Online transaction processing Operational research and scientific management Operational research. Management science Order quantity policies Pricing Pricing policies Probability distributions Regret Reservation systems Revenue Revenue management Studies suboptimal algorithms Wage & price controls United States Lower bound Competitiveness Booking Return rate Real time analysis of algorithms: suboptimal algorithms Production management inventory/production: policies, marketing/pricing Pricing Price control Inventory control Marketing policy Tariffication Algorithm analysis
ISSN:	0030-364X, 1526-5463
Online Access:	Get full text
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