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This paper studies the capacity control problem in revenue management with single resource, where the decision maker can only estimate the type of probability distribution of uncertain demand, but they do not have the necessary historic data to estimate the parameters of these distributions. We model these uncertainty parameters with fuzzy variables. Based on the theory of fuzzy satisfaction degree...
It is extremely important for airlines to study the flexible seat inventory control issues to prevent flight revenue from spoiled due to inaccurate prediction of air passenger demand. This paper provided a novel capacity control method based on real option and showed how airlines may be considered as the holder of callable tickets. In a fully competitive market, a partial differential equation model...
The application of Normal Inverse Gaussian (NIG) distribution to the oil price return distribution fitting is explored. The statistical properties of oil price return were studied and the normality test was performed. The result shows that the return distribution is characterized by asymmetry, leptokurtosis and heavy tails. The NIG distribution was introduced to calibrate the return dataset to find...
Bayesian network is a graphical model which represents probabilistic relationships among variables in a database. This paper firstly discusses the advantages of Bayesian network and association rules, then combines them together to build a personal credit network model, and finally presents an instance to indicate the applications with WEKA and GeNIe software. The experimental result shows that this...
Many firms can sell identical products online using auctions and posted prices simultaneously. This paper develops a model of the key trade-offs sellers face in such a dual-channel setting, built about the optimal choice of the auction quantity, the auction duration, and the posted price. Our discussion is under the finite inventory of the seller. We model consumer choice of channels through a threshold...
We formally embed a new-style of E-commerce into a dynamic framework that is typical of the revenue management problem. Full characterize classical results of incentive compatible online auctions. The main focus of this paper is joint inventory control and pricing problem of revenue management in which buyers act strategically and bid for units of a firm's fixed product online. Faced by a sequence...
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