Risk-Averse Capacity Control in Revenue Management

Name: Risk-Averse Capacity Control in Revenue Management
Author: Christiane Barz

Paperback Engels 2007 2007e druk 9783540730132

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Samenvatting

This book revises the well-known capacity control problem in revenue management from the perspective of a risk-averse decision-maker. Modelling an expected utility maximizing decision maker, the problem is formulated as a risk-sensitive Markov decision process. Special emphasis is put on the existence of structured optimal policies. Numerical examples illustrate the results.

Specificaties

ISBN13:9783540730132

Taal:Engels

Bindwijze:paperback

Aantal pagina's:173

Uitgever:Springer Berlin Heidelberg

Druk:2007

Hoofdrubriek:Algemeen management, Inkoop en logistiek

Serie:Lecture Notes in Economics and Mathematical Systems

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Inhoudsopgave

Basic Principles.- Markov Decision Processes and the Total Reward Criterion.- Expected Utility Theory for Sequential Decision Making.- Expected Revenue Maximizing Capacity Control.- Capacity Control in a Random Environment.- Basic Single Resource Capacity Control Models in Revenue Management.- Expected Utility Maximizing Capacity Control.- Capacity Control Maximizing Additive Time-Separable Utility.- Capacity Control Maximizing Atemporal Utility.- An Extension: Capacity Control Under a General Discrete Choice Model of Consumer Behavior.- Conclusion.