Risk Averse Capacity Control In Revenue Management
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Risk Averse Capacity Control In Revenue Management
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Author : Christiane Barz
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-08-16
Risk Averse Capacity Control In Revenue Management written by Christiane Barz and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-08-16 with Business & Economics categories.
This book revises the well-known capacity control problem in revenue management from the perspective of a risk-averse decision-maker. Modelling an expected utility maximizing decision maker, the problem is formulated as a risk-sensitive Markov decision process. Special emphasis is put on the existence of structured optimal policies. Numerical examples illustrate the results.
Dynamic Capacity Control In Air Cargo Revenue Management
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Author : Rainer Hoffmann
language : en
Publisher: KIT Scientific Publishing
Release Date : 2014-05-12
Dynamic Capacity Control In Air Cargo Revenue Management written by Rainer Hoffmann and has been published by KIT Scientific Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-12 with Business & Economics categories.
This book studies air cargo capacity control problems. The focus is on analyzing decision models with intuitive optimal decisions as well as on developing efficient heuristics and bounds. Three different models are studied: First, a model for steering the availability of cargo space on single legs. Second, a model that simultaneously optimizes the availability of both seats and cargo capacity. Third, a decision model that controls the availability of cargo capacity on a network of flights.
Operations Research Proceedings 2007
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Author : Jörg Kalcsics
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-03-20
Operations Research Proceedings 2007 written by Jörg Kalcsics and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-03-20 with Business & Economics categories.
The symposium Operations Research 2007 was held from September 5-7, 2007 at the Saarland University in Saarbru ̈cken. This international conference is at the same time the annual meeting of the German - erations Research Society (GOR). The transition in Germany (and many other countries in Europe) from a production orientation to a service society combined with a continuous demographic change generated a need for intensi?ed Op- ations Research activities in this area. On that account this conference has been devoted to the role of Operations Research in the service industry. The links to Operations Research are manifold and include many di?erent topics which are particularly emphasized in scienti?c sections of OR 2007. More than 420 participants from 30 countries made this event very international and successful. The program consisted of three p- nary,elevensemi-plenaryandmorethan300contributedpresentations, which had been organized in 18 sections. During the conference, the GOR Dissertation and Diploma Prizes were awarded. We congratulate all winners, especially Professor Wolfgang Domschke from the Da- stadt University of Technology, on receiving the GOR Scienti?c Prize Award.
Financial Risk Management With Bayesian Estimation Of Garch Models
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Author : David Ardia
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-05-08
Financial Risk Management With Bayesian Estimation Of Garch Models written by David Ardia and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-05-08 with Business & Economics categories.
This book presents in detail methodologies for the Bayesian estimation of sing- regime and regime-switching GARCH models. These models are widespread and essential tools in n ancial econometrics and have, until recently, mainly been estimated using the classical Maximum Likelihood technique. As this study aims to demonstrate, the Bayesian approach o ers an attractive alternative which enables small sample results, robust estimation, model discrimination and probabilistic statements on nonlinear functions of the model parameters. The author is indebted to numerous individuals for help in the preparation of this study. Primarily, I owe a great debt to Prof. Dr. Philippe J. Deschamps who inspired me to study Bayesian econometrics, suggested the subject, guided me under his supervision and encouraged my research. I would also like to thank Prof. Dr. Martin Wallmeier and my colleagues of the Department of Quantitative Economics, in particular Michael Beer, Roberto Cerratti and Gilles Kaltenrieder, for their useful comments and discussions. I am very indebted to my friends Carlos Ord as Criado, Julien A. Straubhaar, J er ^ ome Ph. A. Taillard and Mathieu Vuilleumier, for their support in the elds of economics, mathematics and statistics. Thanks also to my friend Kevin Barnes who helped with my English in this work. Finally, I am greatly indebted to my parents and grandparents for their support and encouragement while I was struggling with the writing of this thesis.
Fuzzy Portfolio Optimization
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Author : Yong Fang
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-09-20
Fuzzy Portfolio Optimization written by Yong Fang and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09-20 with Business & Economics categories.
Most of the existing portfolio selection models are based on the probability theory. Though they often deal with the uncertainty via probabilistic - proaches, we have to mention that the probabilistic approaches only partly capture the reality. Some other techniques have also been applied to handle the uncertainty of the ?nancial markets, for instance, the fuzzy set theory [Zadeh (1965)]. In reality, many events with fuzziness are characterized by probabilistic approaches, although they are not random events. The fuzzy set theory has been widely used to solve many practical problems, including ?nancial risk management. By using fuzzy mathematical approaches, quan- tative analysis, qualitative analysis, the experts’ knowledge and the investors’ subjective opinions can be better integrated into a portfolio selection model. The contents of this book mainly comprise of the authors’ research results for fuzzy portfolio selection problems in recent years. In addition, in the book, the authors will also introduce some other important progress in the ?eld of fuzzy portfolio optimization. Some fundamental issues and problems of po- folioselectionhavebeenstudiedsystematicallyandextensivelybytheauthors to apply fuzzy systems theory and optimization methods. A new framework for investment analysis is presented in this book. A series of portfolio sel- tion models are given and some of them might be more e?cient for practical applications. Some application examples are given to illustrate these models by using real data from the Chinese securities markets.
A Survey On Risk Averse And Robust Revenue Management
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Author : Jochen Gönsch
language : en
Publisher:
Release Date : 2018
A Survey On Risk Averse And Robust Revenue Management written by Jochen Gönsch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Many industries use revenue management to balance uncertain, stochastic demand and inflexible capacity. Popular examples include airlines, hotels, car rentals, retailing, and manufacturing. The classical revenue management approaches considered in theory and practice are based on two assumptions. First, demand - as the only uncertain variable - follows a known distribution and, second, risk-neutrality justifies the maximization of expected revenue. Recently, two related streams of literature emerged that do not need these assumptions. Research on risk-averse revenue management acknowledges that, in practice, many decision makers are risk-averse. Research on robust revenue management focuses worst-case scenarios without a known demand distribution, which is especially relevant for new and extremely unstable businesses.This paper motivates the consideration of risk-averse and robust revenue management. We briefly introduce revenue managements' two main methods - capacity control and dynamic pricing - in the classical, risk-neutral setting. Then, we provide an exhaustive review of the literature on risk-averse and robust capacity control and dynamic pricing. In doing so, the relevant decision criteria are briefly introduced. Finally, possible avenues for future research are outlined.
Revenue Management With Flexible Products
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Author : Michael Müller-Bungart
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-09-18
Revenue Management With Flexible Products written by Michael Müller-Bungart and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-09-18 with Business & Economics categories.
This book analyzes revenue management (RM) problems with flexible products and RM in broadcasting companies. It presents models and methods that explicitly take the implications of flexibility into account. In addition, it contains descriptions of algorithms to generate stochastic demand data streams for general RM problems. To help readers with their own simulation studies, it provides an implementation as a Microsoft Windows executable file.
The Theory And Practice Of Revenue Management
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Author : Kalyan T. Talluri
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-02-21
The Theory And Practice Of Revenue Management written by Kalyan T. Talluri and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-02-21 with Business & Economics categories.
The Theory and Practice of Revenue Management is a book that comprehensively covers theory and practice of the entire field, including both quantity and price-based RM, as well as significant coverage of supporting topics such as forecasting and economics. The authors believe such a comprehensive approach is necessary to fully understand the subject. A central objective of the book is to unify the various forms of RM and to link them closely to each other and to the supporting fields of statistics and economics. Nevertheless, the topics and coverage do reflect choices about what is important to understand RM. Hence, the book’s purpose is to provide a comprehensive, accessible synthesis of the state of the art in Revenue Management.
Applications In Statistical Computing
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Author : Nadja Bauer
language : en
Publisher: Springer Nature
Release Date : 2019-10-12
Applications In Statistical Computing written by Nadja Bauer and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-12 with Computers categories.
This volume presents a selection of research papers on various topics at the interface of statistics and computer science. Emphasis is put on the practical applications of statistical methods in various disciplines, using machine learning and other computational methods. The book covers fields of research including the design of experiments, computational statistics, music data analysis, statistical process control, biometrics, industrial engineering, and econometrics. Gathering innovative, high-quality and scientifically relevant contributions, the volume was published in honor of Claus Weihs, Professor of Computational Statistics at TU Dortmund University, on the occasion of his 66th birthday.
Computational Aspects Of General Equilibrium Theory
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Author : Donald Brown
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-01-08
Computational Aspects Of General Equilibrium Theory written by Donald Brown and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-01-08 with Business & Economics categories.
This monograph presents a general equilibrium methodology for microeconomic policy analysis. It is intended to serve as an alternative to the now classical, axiomatic general equilibrium theory as exposited in Debreu`s Theory of Value (1959) or Arrow and Hahn`s General Competitive Analysis (1971). The monograph consists of several essays written over the last decade. It also contains an appendix by Charles Steinhorn on the elements of O-minimal structures.