The choice network revenue management (RM) model incorporates customer purchase behavior as customers purchasing products with certain probabilities that are a function of the offered assortment of products, and is the appropriate model for airline and hotel network revenue management, dynamic...

Many dynamic revenue management models divide the sale period into a finite number of periods T and assume, invoking a fine-enough grid of time, that each period sees at most one booking request. These Poisson-type assumptions restrict the variability of the demand in the model, but researchers...

I describe the customer valuations game, a simple intuitive game that can serve as a foundation for teaching revenue management. The game requires little or no preparation, props or software, takes around two hours (and hence can be finished in one session), and illustrates the formation of...

I describe the customer valuations game, a simple intuitive game that can serve as a foundation for teaching revenue management. The game requires little or no preparation, props or software, takes around two hours (and hence can be finished in one session), and illustrates the formation of...

Many dynamic revenue management models divide the sale period into a finite number of periods T and assume, invoking a fine-enough grid of time, that each period sees at most one booking request. These Poisson-type assumptions restrict the variability of the demand in the model, but researchers...

Revenue management (RM) is a complicated business process that can best be described as control of sales (using prices, restrictions, or capacity), usually using software as a tool to aid decisions. RM software can play a mere informative role, supplying analysts with formatted and summarized...

Key service elements combine to create the service concept and its value proposition for customers. During service operations failures, employee interactions with customers are a critical service element in restoring customer satisfaction. However, research in consumer psychology shows that...

A Revenue Management system helps to optimize products inventory across various markets and points of sale. However, fare classes may contain prices in different currencies for an international airline. Since the EUR/USD exchange rate fluctuates largely for the last year, the motivation of this...

Over the years, the evolution of the air transport sector has determined important changes in the tourism industry. One of the consequences of the liberalization of air transport has been the development of the "hub-and-spoke" system, used by traditional airlines in order to be more efficient in...