東華大學圖書館 |

Language: English

Help

回圖書館首頁

手機版館藏查詢

Back

Switch To: Labeled | MARC Mode | ISBD

Continuous-time models in the perish...

Feng, Youyi.

Linked to FindBook

Google Book

Amazon

博客來

Continuous-time models in the perishable asset revenue management.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Continuous-time models in the perishable asset revenue management./
Author:	Feng, Youyi.
Description:	93 p.
Notes:	Adviser: Guillermo Gallego.
Contained By:	Dissertation Abstracts International56-03A.
Subject:	Business Administration, Management. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9522858

Continuous-time models in the perishable asset revenue management.
Feng, Youyi.

Continuous-time models in the perishable asset revenue management. - 93 p.

Adviser: Guillermo Gallego.

Thesis (Ph.D.)--Columbia University, 1995.

A managerial problem of selling a fixed stock of perishable items over a finite horizon is examined in this thesis. The industries facing such problem include airlines selling seats before planes depart, hotels renting rooms before midnight, theaters selling seats before curtain time, and retailers selling seasonal or fashionable goods such as air-conditioners or winter coats before the end of the season. With sunk investments in capacity, and low marginal costs of providing goods or services within capacity, revenue maximization in excess of salvage value becomes of paramount concern for the management of these industries. We study a continuous-time and quite general version of the yield management problem where demand is price sensitive and stochastic and management knows the expected demand rate at certain prescribed prices and at any certain time over the sales horizon. We address the question of when to increase or decrease the price so as to enhance the revenues of these industries.Subjects--Topical Terms:

626628
Business Administration, Management.

Continuous-time models in the perishable asset revenue management.
LDR:03463nam 2200301 a 45 001 929704
005 20110427
008 110427s1995 eng d
035 $a (UnM)AAI9522858
035 $a AAI9522858
040 $a UnM $c UnM
100 1 $a Feng, Youyi. $3 1253190
245 1 0 $a Continuous-time models in the perishable asset revenue management.
300 $a 93 p.
500 $a Adviser: Guillermo Gallego.
500 $a Source: Dissertation Abstracts International, Volume: 56-03, Section: A, page: 1017.
502 $a Thesis (Ph.D.)--Columbia University, 1995.
520 $a A managerial problem of selling a fixed stock of perishable items over a finite horizon is examined in this thesis. The industries facing such problem include airlines selling seats before planes depart, hotels renting rooms before midnight, theaters selling seats before curtain time, and retailers selling seasonal or fashionable goods such as air-conditioners or winter coats before the end of the season. With sunk investments in capacity, and low marginal costs of providing goods or services within capacity, revenue maximization in excess of salvage value becomes of paramount concern for the management of these industries. We study a continuous-time and quite general version of the yield management problem where demand is price sensitive and stochastic and management knows the expected demand rate at certain prescribed prices and at any certain time over the sales horizon. We address the question of when to increase or decrease the price so as to enhance the revenues of these industries.
520 $a We show that under mild conditions it is optimal to decrease (resp., to increase) the current price as soon as the present time falls in some "switching price area" related to current stock and price. One of simple kind of optimal strategies is monotonous. Under monotonous strategy, corresponding to specific price and certain level of stock, the whole period of sales horizon may be divided into at most two connected intervals. One of them is called "keeping price area" and another is "switching price area". However, most of situations will exhibit diversified kinds of optimal strategies which separate the whole sales horizon into many isolated "keeping price areas" and "switching price areas".
520 $a We investigate various models of such kind. We will be able to alter the price from once to any times and allow the prices to be of constant, the function of time or Markovian process. The variation of demand statistics in the modeling may take constant, time's function or Markovian rates. But we do not consider demands for multiple items, namely group demands. The demands in consideration instead are single requests and thus form counting processes.
520 $a Fortunately, in spite of the complexity of computation which grows very fast with the size of the problem, we will provide a very efficient algorithm based on an asymptotic approximation. This considerably effective algorithm will be run linearly with regard to the size of initial inventory and the length of sales horizon. This algorithm can be useful for all variants of model we have considered in the thesis.
590 $a School code: 0054.
650 4 $a Business Administration, Management. $3 626628
650 4 $a Operations Research. $3 626629
690 $a 0454
690 $a 0796
710 2 0 $a Columbia University. $3 571054
773 0 $t Dissertation Abstracts International $g 56-03A.
790 $a 0054
790 1 0 $a Gallego, Guillermo, $e advisor
791 $a Ph.D.
792 $a 1995
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9522858