A taxonomy and research overview of perishable-asset revenue management: Yield management, overbooking, and pricing

A taxonomy and research overview of perishable-asset revenue management: Yield management, overbooking, and pricing

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Article ID: iaor19931066
Country: United States
Volume: 40
Issue: 5
Start Page Number: 831
End Page Number: 844
Publication Date: Sep 1992
Journal: Operations Research
Authors: ,
Keywords: inventory
Abstract:

This paper proposes the term perishable-asset revenue management to denote the field that combines the areas of yield management, overbooking, and pricing for perishable assets. After summarizing the characteristics common to problems in this field, the paper discusses the objectives and constraints faced by decision makers. Then it offers a comprehensive taxonomy with 14 different elements and reviews the research that has been done related to each element. Finally, it suggests some important areas of future research that can help bridge the gap between theory and application.

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