The wine industry considered product quality as key to increasing competitiveness. However, when wines are perceived quality neutral, regardless of other existing differences, consumers will substitute one wine for another exposing producer to intense price competition. To differentiate wines, a...

Der Einzelhandel in der Bandbreite seiner heutigen Erscheinungsformen hat auf der Angebotsseite sowie auf der Nachfrageseite in den zurückliegenden Jahrzehnten einen gravierenden Wandel vollzogen. Dabei ist eine generalisierende Beurteilung sehr schwierig, liegen doch zwischen SB-Warenhäusern,...

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...