The house advantage for Baccarat is known, hence the theoretical win can be determined. What is impractical to theoretically determine is the frequency and financial implications of extreme events, for example, prolonged winning streaks coupled with various betting patterns. The simulation...

After its success in the service industry, revenue management is now an increasingly discussed topic in the process industry. The results from an empirical study among 124 firms show that the overall importance of revenue management within the process industry is regarded as high. Furthermore,...

In today’s volatile markets, with consumer buying behavior evolving rapidly, rudimentary revenue management practices are no longer sufficient. Given the complexity of demand patterns in today’s markets, optimal demand management is achieved only with a totally holistic approach. This means...

In revenue management practice, the issue of perceived fairness is a serious concern, because revenue management applies different prices for basically the same service. The purpose of this study is to examine the effect of hotel revenue management pricing on customers’ perceptions of...

Revenue Management (RM) is an important tool for matching supply and demand by segmenting customers into different segments based on their willingness-to-pay and allocating scarce capacity to the different segments in a way that maximizes firm revenues. The benefits of RM are well accepted in...

This study investigates the revenue performance of choice-based revenue management (RM) systems in various business environments. Previous research conducted using simulated data suggests that incremental revenue gains of up to 15% are to be expected when choice-based RM techniques are employed....

Low-cost carriers and escalading fuel costs are placing increased pressure on US legacy carriers to reposition traditional revenue management techniques towards more customer-centric approaches. In this context, recent critiques of revenue management models question the validity of assumptions...

Dynamic pricing problems have received considerable attention in the operations management literature in the last two decades. Most of the work has focused on structural results and managerial insights using stylized models without considering business rules and issues commonly encountered in...

This dissertation introduces and analyzes research problems related to Retail Operations and Humanitarian Logistics. In Retail Operations, the inventory that ends up as unsaleable at primary markets can be significant (up to 20% of the retail product). Thus retailers look for strategies like...

This dissertation studies the competitive behavior of firms in supply chain management and revenue management contexts. A game theoretic approach is employed. We analyze capacity allocation and pricing strategies and derive equilibrium solutions for multiple competing firms. We also study...