GOALI: Strategic Pricing and Inventory Management of Constrained Capacity with Repeated Transactions

GOALI:重复交易产能受限的战略定价和库存管理

基本信息

  • 批准号:
    0218104
  • 负责人:
  • 金额:
    $ 36.17万
  • 依托单位:
  • 依托单位国家:
    美国
  • 项目类别:
    Standard Grant
  • 财政年份:
    2002
  • 资助国家:
    美国
  • 起止时间:
    2002-09-01 至 2005-08-31
  • 项目状态:
    已结题

项目摘要

This research project will explore the impact of customer learning and behavior on the optimal pricing of constrained capacity. The research team seeks to characterize instances when incorporating customer behavior will lead to strategically optimal policies that deviate significantly from tactically optimal policies that ignore customer behavior and implicitly assume a single interaction between buyer and seller. This research will provide insight into how pricing dynamics are influenced by the interplay between seller policies and customer expectations. It has the potential to lead to significant improvements in current commercial pricing policies in practice. Such improvements would lead to better capacity allocation resulting in improved economic efficiencies. The key results of this research project will be published in archival and trade journals and presented at national conferences, academic and industry seminars. In addition, the principal investigators will create and co-teach a new Ph.D. level course in revenue management and develop educational software embodying the key concepts of this rapidly developing field, thereby promoting teaching, training and learning.The problem of optimal pricing of perishable constrained capacity over time has received considerable attention. If a good perishes instantaneously and the willingness to pay for the good increases over time -- as in the case of airline seats and hotel rooms -- the problem of determining optimal prices is known as revenue management. If the willingness to pay decreases over time -- as in fashion goods and consumer electronics, the problem is known as markdown management. Revenue management has been estimated to provide $1 billion annually for large airlines while markdown management has been credited with increasing revenues by up to 7%. It is therefore not surprising that both revenue management and markdown management have been the topics of considerable academic research and substantial industry investment. Research into pricing of constrained products has generally focused on maximizing the total expected revenue (or profitability) achieved from fixed capacity. This is the goal of the EMSRb approach to airline revenue management as well as the focus of markdown management systems. This approach is appropriate when buyers and sellers will interact only once. However, if there are repeated interactions among buyers and sellers, then a seller's action today will influence the expectations (and hence the behavior) of buyers in the future. For example, a seller who offers distressed inventory at a deep discount will train some buyers to expect this in the future and change their behavior accordingly. Similarly, a seller who provides more availability of inventory to a particular market segment than the competition will train buyers to turn to him first. In both cases, sellers may achieve higher returns over time from pricing policies that incorporate the impact of customer behavior rather than simply maximizing the return from their current stock of inventory.
本研究将探讨客户学习与行为对受限产能最优定价的影响。研究团队试图描述将客户行为纳入战略最优策略的情况,这些策略与忽略客户行为并隐含地假设买家和卖家之间的单一交互的战术最优策略有很大偏离。这项研究将深入了解卖家政策和客户期望之间的相互作用如何影响定价动态。它有可能导致现行商业定价政策在实践中得到重大改进。这种改进将导致更好的能力分配,从而提高经济效率。这一研究项目的主要成果将发表在档案和贸易期刊上,并在国家会议、学术和行业研讨会上介绍。此外,首席研究人员将创建并共同教授一门新的收入管理博士水平课程,并开发体现这一快速发展领域的关键概念的教育软件,从而促进教学、培训和学习。随着时间的推移,易腐烂的受限产能的最优定价问题受到了相当大的关注。如果一件商品瞬间消失,购买商品的意愿随着时间的推移而增加--就像机票和酒店房间的情况--那么确定最优价格的问题就被称为收入管理。如果支付意愿随着时间的推移而下降--就像时尚商品和消费电子产品那样,那么这个问题就被称为降价管理。据估计,收入管理每年为大型航空公司提供10亿美元,而降价管理被认为使收入增加了高达7%。因此,收益管理和降价管理一直是大量学术研究和大量行业投资的主题也就不足为奇了。对受限产品定价的研究通常集中在最大化从固定产能获得的总预期收入(或盈利能力)。这是EMSRb方法用于航空公司收入管理的目标,也是降价管理系统的重点。当买家和卖家只进行一次互动时,这种方法是合适的。然而,如果买家和卖家之间存在重复的互动,那么卖家今天的行为将影响买家未来的预期(从而影响其行为)。例如,卖家以很大的折扣提供不良库存,会训练一些买家在未来预料到这一点,并相应地改变他们的行为。同样,向特定细分市场提供比竞争对手更多库存的卖家,会训练买家首先转向他。在这两种情况下,随着时间的推移,卖家可能会从纳入客户行为影响的定价策略中获得更高的回报,而不是简单地最大化当前库存的回报。

项目成果

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Guillermo Gallego其他文献

In-loop feature tracking for structure and motion with out-of-core optimization
通过核外优化进行结构和运动的环内特征跟踪
Recursive Camera Autocalibration with the Kalman Filter
使用卡尔曼滤波器进行递归相机自动校准
Bounds and Heuristics for Multiproduct Pricing
多产品定价的界限和启发法
  • DOI:
  • 发表时间:
    2023
  • 期刊:
  • 影响因子:
    0
  • 作者:
    Guillermo Gallego;Gerardo Berbeglia
  • 通讯作者:
    Gerardo Berbeglia
Event-aided Direct Sparse Odometry – Supplementary Material –
事件辅助直接稀疏里程计 – 补充材料 –
  • DOI:
  • 发表时间:
    2022
  • 期刊:
  • 影响因子:
    0
  • 作者:
    Javier Hidalgo;Guillermo Gallego;D. Scaramuzza
  • 通讯作者:
    D. Scaramuzza
Rationality vs Regularity in Discrete choice Models
离散选择模型中的理性与规律性

Guillermo Gallego的其他文献

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{{ truncateString('Guillermo Gallego', 18)}}的其他基金

Improving the Undergraduate IEOR Programs at Columbia University
改进哥伦比亚大学本科 IEOR 项目
  • 批准号:
    0431821
  • 财政年份:
    2004
  • 资助金额:
    $ 36.17万
  • 项目类别:
    Standard Grant
Studies in Stochastic Production Systems
随机生产系统研究
  • 批准号:
    9908235
  • 财政年份:
    1999
  • 资助金额:
    $ 36.17万
  • 项目类别:
    Continuing Grant
Joint Pricing, Allocation and Estimation Models for Revenue Management in the Airline and Retail Industries
航空和零售业收入管理的联合定价、分配和估算模型
  • 批准号:
    9410146
  • 财政年份:
    1994
  • 资助金额:
    $ 36.17万
  • 项目类别:
    Continuing Grant
Dynamic Pricing and Allocation Models for Revenue Management in the Airline and Retail Industries
航空和零售行业收入管理的动态定价和分配模型
  • 批准号:
    9309394
  • 财政年份:
    1993
  • 资助金额:
    $ 36.17万
  • 项目类别:
    Standard Grant
Research Initiation: Coordinating the Production of Components and Assemblies When Demands and Yields are Random
研究启动:当需求和产量随机时协调零部件和组件的生产
  • 批准号:
    9109636
  • 财政年份:
    1991
  • 资助金额:
    $ 36.17万
  • 项目类别:
    Continuing Grant

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