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We investigate a single-leg airline revenue management problem where an airline has limited demand information and uncensored no-show information. To use such hybrid information for simultaneous overbooking and booking control decisions, we combine expected overbooking cost with revenue. Then we...
Persistent link: https://www.econbiz.de/10011097672
Focusing on a seller's regret in not acting optimally, we develop a model of overbooking and fare-class allocation in the multifare, single-resource problem in revenue management. We derive optimal static overbooking levels and booking limits, in closed form, that minimize the maximum relative...
Persistent link: https://www.econbiz.de/10009218663
In this paper, we consider the classical multifare, single-resource (leg) problem in revenue management for the case where demand information is limited. Our approach employs a competitive analysis, which guarantees a certain performance level under all possible demand scenarios. The only...
Persistent link: https://www.econbiz.de/10009191438
Fractional management companies (FMCs) that provide on-demand air travel services experience frequent changes in aircraft availability and flight requests. We propose scheduling heuristics which are both cost-effective and persistent (i.e., close to the original schedule) to address the...
Persistent link: https://www.econbiz.de/10009211351
We find that mean municipal debt costs are greater following financial restatement disclosures. Comparisons of the relative use of municipal debt, and of the use of unsecured versus secured debt, corroborate that financial restatements increase the cost of municipal debt financing. Additional...
Persistent link: https://www.econbiz.de/10010729555
We study an order promising problem in a multiclass, available-to-promise (ATP) assembly system in the presence of <i>pseudo orders</i>. A pseudo order refers to a tentative customer order whose attributes, such as the likelihood of an actual order, order quantity, and confirmation timing, can change...
Persistent link: https://www.econbiz.de/10010990495
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Adverse weather is the dominant cause of delays in the National Airspace System (NAS). Since the future weather condition is only predictable with a certain degree of accuracy, managing traffic in the weather-affected airspace is a challenging task. In this paper, we propose a geometric model to...
Persistent link: https://www.econbiz.de/10010755030