Structural properties of network revenue management models: An economic perspective

Structural properties of network revenue management models: An economic perspective

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Article ID: iaor20072917
Country: United States
Volume: 53
Issue: 8
Start Page Number: 748
End Page Number: 760
Publication Date: Dec 2006
Journal: Naval Research Logistics
Authors:
Keywords: marketing, economics, optimization, yield management
Abstract:

Many revenue management problems have a network aspect. In this paper, we argue that a network can be thought of as a system of substitutable and complementary products, and the value of a revenue management model should be supermodular or submodular in the availability of two resources as the resources are economic substitutes or complements. We demonstrate that this is true in the case of a two-resource dynamic stochastic revenue management model and show how this applies for multi-resource deterministic static revenue management models.

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