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simulation modelling. These new results are integrated with Schruben's work to present a complete description of event graphs and … their analysis. A (simple) flexible manufacturing system is modelled via event graphs to illustrate event graph modelling …
Persistent link: https://www.econbiz.de/10009214222
horizons even in settings with no advance demand model information. One motivating application comes from the sales of new … financing and construction. <i>This paper was accepted by Gérard P. Cachon, stochastic models and simulation.</i> …
Persistent link: https://www.econbiz.de/10010990457
potential customers, observing either success or failure in each sales attempt. The parameters of the underlying demand model … to the simplest kind of model uncertainty, where one of two demand models is known to apply, and we focus initially on … knows the underlying demand model is bounded by a constant as the number of sales attempts becomes large. <i>This paper was …
Persistent link: https://www.econbiz.de/10010990574
This paper studies alternative price-service mechanisms for a provider that serves customers whose delay cost depends on their service valuations. We propose a generalized delay cost structure that augments the standard additive model with a multiplicative component, capturing the...
Persistent link: https://www.econbiz.de/10009209141
last-minute selling as the probability of having high demand increases. When firms randomize between opaque selling and … high demand increases. When firms with unequal capacities use the opaque selling strategy, consumers know more clearly …
Persistent link: https://www.econbiz.de/10009214098
(1) the ratio between the number of units put up for sale and the expected demand is moderate and/or (2) the …
Persistent link: https://www.econbiz.de/10009214234
We trace the history of revenue management in an effort to illustrate a successful e--commerce model of dynamic, automated sales. Our discourse begins with a brief overview of electronic distribution as practiced in the airline industry, emphasizing the fundamental role of central reservation...
Persistent link: https://www.econbiz.de/10009214410
We consider a rental firm with two types of customers. Contract customers pay fixed, prenegotiated rental fees and expect a high quality of service. Walk-in customers have no contractual relations with the firm and are "shopping for price." Given multiple contract and walk-in classes, the rental...
Persistent link: https://www.econbiz.de/10009214905
We consider a seller who owns two capacity-constrained resources and markets two products (components) corresponding to these resources as well as a bundle comprising the two components. In an environment where all customers agree that one of the two components is of higher quality than the...
Persistent link: https://www.econbiz.de/10009218211
inventory among fare classes, given a demand distribution for each class. In practice, the seat allocation decisions of one … competition the booking limit may be higher or lower, however, than the monopoly level, depending on the demand for connecting …
Persistent link: https://www.econbiz.de/10009218331