Toward Robust Revenue Management: Competitive Analysis of Online Booking
成果类型：
Article
署名作者：
Ball, Michael O.; Queyranne, Maurice
署名单位：
University System of Maryland; University of Maryland College Park; University System of Maryland; University of Maryland College Park; University of British Columbia
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.1080.0654
发表日期：
2009
页码：
950-963
关键词：
摘要：
In this paper, we consider the revenue management problem from the perspective of online algorithms. This approach eliminates the need for both demand forecasts and a risk-neutrality assumption. The competitive ratio of a policy relative to a given input sequence is the ratio of the policy's performance to the offline optimal. Under the online algorithm approach, revenue management policies are evaluated based on the highest competitive ratio they can guarantee. We are able to define lower bounds on the best-possible performance and describe policies that achieve these lower bounds. We address the two-fare problem in greatest detail, but also treat the general multifare problem and the bid-price control problem.