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,...

This paper illustrates the benefits of applying mechanism design techniques to questions in revenue management, in particular to dynamic allocation and pricing problems. It is demonstrated that the solution to a sequential stochastic assignment problem under complete information can also be...

This study develops and estimates a dynamic model of consumer choice behavior in markets for seasonal goods, where products are sold over a finite season and availability is limited. In these markets, retailers often use dynamic markdown policies in which an initial retail price is announced at...

We study a seller that starts with an initial inventory of goods, has a target horizon over which to sell the goods, and is subject to a set of financial <i>milestone</i> constraints on the revenues and sales that need to be achieved at different time points along the sales horizon. We characterize the...

Motivated by applications in financial services, we consider a seller who offers prices sequentially to a stream of potential customers, observing either success or failure in each sales attempt. The parameters of the underlying demand model are initially unknown, so each price decision involves...

In this work, we aim to provide an in-depth understanding of the organizational learning curve and why significant differences in the rate of learning exist across organizations. We review what is known about organizational learning curves as well as what is unknown. In sum, much is known and...

In the last years, customer centricity has turned out to be a promising paradigm for maximizing corporate value by increasing value contributions from customers. In this context, the discipline of revenue management provides plenty of methods to optimize (predominantly short-term) cash-inflows...

Both the static and the dynamic single-leg revenue management problem are studied from the perspective of a risk-averse decision maker. Structural results well-known from the risk-neutral case are extended to the risk-averse case on the basis of an exponential utility function. In particular,...

Many revenue management (RM) industries are characterized by (a) fixed capacities in the short term (e.g., hotel rooms, seats on an airline right), (b) homogeneous products (e.g., two airline rights between the same cities at similar times), and (c) customer purchasing decisions largely...

The last Public Expenditure Review for Ecuador (PER) was produced in 1993. More than a decade later, the purpose of this report is to provide the Ecuadorian authorities with the World Bank's and Inter-American Development Bank's joint comprehensive account of their diagnoses and recommendations...