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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...
Dynamic pricing has been one of the major research areas of revenue management. This paper provided a novel dynamic pricing method based on option and showed how an airline may be considered as the holder of a financial option on tickets. In a fully competitive market, a partial differential equation model was used to describe the financial aspects of the price of tickets and the partial differential...
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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