We consider a seller who sells a product over T discrete period in the season. The arrival rate of customers is known but the parameter of customer sensitivity to price is unknown. We assume that the seller has a prior belief in this parameter, which is updated using the Bayesian rule. The...

This study assesses the fire safety risks associated with compressed natural gas (CNG) vehicle systems, comprising primarily a typical school bus and supporting fuel infrastructure. The study determines the sensitivity of the results to variations in component failure rates and consequences of...

The objective of this paper is to develop a conceptual framework for applying yield management in manufacturing. We demonstrate the existence of close links between airline and manufacturing industries as far as some decision support problems are concerned. The yield management (YM), introduced...