A Continuous-Time Yield Management Model with Multiple Prices and Reversible Price Changes
A Continuous-Time Yield Management Model with Multiple Prices and Reversible Price Changes
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DOI：
10.1287/mnsc.46.5.644.12050
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发表时间：
2000-05
影响因子：
5.4
通讯作者：
Youyi Feng;B. Xiao
中科院分区：
文献类型：
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作者：
Youyi Feng;B. Xiao
本文研究了一种允许可逆价格变化的连续时间收益管理模型。我们假设易腐烂资产以一组离散的价格水平提供。每个层次的需求都是一个泊松过程。为了最大化预期收入，管理层随着销售的变化动态控制价格。我们表明，形成凹包络线的这些价格的子集可能是最优的。我们将问题表述为强度控制模型，并以封闭形式导出最优解。讨论了最优解决方案的属性及其策略实施。提供了数值示例。
This article studies a continuous-time yield management model in which reversible price changes are allowed. We assume that perishable assets are offered at a set of discrete price levels. Demand at each level is a Poisson process. To maximize the expected revenue, management controls the price dynamically as sales evolve. We show that a subset of these prices that form a concave envelope is potentially optimal. We formulate the problem into an intensity control model and derive the optimal solution in closed form. Properties of the optimal solution and their policy implementations are discussed. Numerical examples are provided.