A framework for solving network revenue management problems with customer choice behavior

Petr Fiala ()

Central European Journal of Operations Research, 2012, vol. 20, issue 3, 383-392

Abstract: Revenue management is the process of understanding, anticipating and influencing consumer behavior in order to maximize revenue. Network revenue management models attempt to maximize revenue when customers buy bundles of multiple resources. The dependence among the resources in such cases is created by customer demand. Network revenue management can be formulated as a stochastic dynamic programming problem whose exact solution is computationally intractable. Solutions are based on approximations of various types. Customer choice behavior modeling has been gaining increasing attention in the revenue management. A framework for solving network revenue management problems with customer choice behavior is proposed. The modeling and solving framework is composed from three inter-related network structures: basic network model, Petri net, and neural net. Copyright Springer-Verlag 2012

Keywords: Revenue management; Network problems; Approximations; Customer choice; Petri net and neural net (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1007/s10100-012-0241-z

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