Efficiency measurement for revenue management

Fedor Nikitin () and Antti Tolvanen ()
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Fedor Nikitin: Finnair
Antti Tolvanen: Finnair

Journal of Revenue and Pricing Management, 2022, vol. 21, issue 6, No 5, 638-644

Abstract: Abstract New measure for revenue management efficiency based on the information ratio of the analyst decisions is introduced. Compared to the often-used revenue opportunity models based on greedy upper and lower revenues this measure is defined for all demand levels and inherently expresses the effect of demand forecast errors. In this study, we consider Gaussian demand vector with possibly non-zero covariance, although the model translates to any demand distribution.

Keywords: Revenue management; Revenue opportunity model; Static single resource model; Efficiency measurement; Random portfolios (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1057/s41272-022-00387-6

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