Estimation and Forecasting

Curt Cramer () and Andreas Thams ()
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Andreas Thams: University of Applied Sciences Worms

Chapter 3 in Airline Revenue Management, 2021, pp 21-37 from Springer

Abstract: Abstract In the previous chapters, we have laid the foundations of revenue management. We have shown and explained that a revenue management system requires estimation and forecasting techniques in order to make predictions about quantities like demand, price elasticity, no-show rate, etc. The quality and the precision of the estimates and forecasts are crucial, as they directly affect the optimization results and finally the overall revenue generated. Hence, the quality of forecasting and estimations influences the bottom-line performance and finally the profitability of an airline.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-658-33721-6_3

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DOI: 10.1007/978-3-658-33721-6_3

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