Risk-Averse Capacity Control in Revenue Management

Barz, Christiane

ISBN 10: 3540730133 / ISBN 13: 9783540730132

Editore: Springer 2007-08, 2007

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Codice articolo 6666-IUK-9783540730132

Dati bibliografici

• Titolo: Risk-Averse Capacity Control in Revenue Management
• Editore: Springer 2007-08
• Data di pubblicazione: 2007
• Lingua: Inglese
• ISBN 10: 3540730133
• ISBN 13: 9783540730132
• Rilegatura: PF
• Condizione: New

Descrizione articolo

Riassunto

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.

Contenuti

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.