𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Dynamic Pricing Model for Airline Revenue Management under Competition

✍ Scribed by Li LUO; Ji-hua PENG

Publisher
Elsevier
Year
2007
Weight
444 KB
Volume
27
Category
Article
ISSN
1874-8651

No coin nor oath required. For personal study only.

✦ Synopsis

This article develops a continuous-time dynamic pricing model for two competitive flights with stochastic control theory and game theory. Two price levels are taken into account for each flight. The condition of the equilibrium solution is derived. Solutions and corresponding properties are discussed. Numerical experiments are also presented to describe the application of the model in real world, the priority of the equilibrium strategy and the other two strategies. The equilibrium strategy is proved to be better than the other two.

πŸ“œ SIMILAR VOLUMES

Price determination for an EOQ model for
Price determination for an EOQ model for deteriorating items under perfect competition
✍ S.S. Mishra; P.P. Mishra πŸ“‚ Article πŸ“… 2008 πŸ› Elsevier Science 🌐 English βš– 329 KB

The problem of price determination for an EOQ model under perfect competition is of central importance in the field of inventory control and management, especially for such kind of models which study the dynamics of the market economy over time. In this paper, an attempt has been made to analyze and

Dynamic models for fixed-income portfoli
Dynamic models for fixed-income portfolio management under uncertainty
✍ Stavros A Zenios; Martin R Holmer; Raymond McKendall; Christiana Vassiadou-Zenio πŸ“‚ Article πŸ“… 1998 πŸ› Elsevier Science 🌐 English βš– 309 KB

We develop multi-period dynamic models for fixed-income portfolio management under uncertainty, using multi-stage stochastic programming with recourse. The models integrate the prescriptive stochastic programs with descriptive Monte Carlo simulation models of the term structure of interest rates. E