A fundamental decision every merchant has to make is on is how large his stores should be. This is particularly true in light of the drastic changes retail concepts have seen in the last decade. There has been a noticeable tendency, particularly for food and convenience retailers, to open more...

The network choice revenue management problem models customers as choosing from an offerset, and the firm decides the best subset to offer at any given moment to maximize expected revenue. The resulting dynamic program for the firm is intractable and approximated by a deterministic linear...

In recent years, many traditional practitioners of revenue management such as airlines or hotels were confronted with aggressive low-cost competition. In order to stay competitive, these firms responded by reducing fare restrictions that were originally meant to fence off customer segments. In...

We consider the problem of a firm selling multiple products that consume a single resource over a finite time period. The amount of the resource is exogenously fixed. We analyze the difference between a dynamic pricing policy and a list price capacity control policy. The dynamic pricing policy...

Lot-sizing and capacity planning are important supply chain decisions, and competition and cooperation affect the performance of these decisions. In this paper, we look into the dynamic lot sizing and resource competition problem of an industry consisting of multiple firms. A capacity...

The railway industry offers similar revenue management opportunities to those found in the airline industry. The railway industry caters for the delivery and management of cargo as well as the transport of passengers. Unlike the airline industry, the railway industry has seen relatively little...

Consider a single-leg dynamic revenue management problem with fare classes controlled by capacity in a risk-averse setting. The revenue management strategy aims at limiting the down-side risk, and in particular, value-at-risk. A value-at-risk optimised policy offers an advantage when considering...

Consider a risk-averse decision maker in the setting of a single-leg dynamic revenue management problem with revenue controlled by limiting capacity for a fixed set of prices. Instead of focussing on maximizing the expected revenue, the decision maker has the main objective of minimizing the...

One of the fundamental problems in operations management is determining the optimal investment in capacity. Capacity investment consumes resources and the decision, once made, is often irreversible. Moreover, the available capacity level affects the action space for production and inventory...

In many implemented network revenue management systems, a bid price control is being used. In this form of control, bid prices are attached to resources, and a product is offered if the revenue derived from it exceeds the sum of the bid prices of its consumed resources. This approach is...