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MB8 - RM2: Capacity aspects of revenue management
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Presentations | ||
Dynamic resource constrained reward collection problems: unified model and analysis 1Columbia University, Graduate School of Business; 2Universite Toulouse 1 Capitole, Toulouse School of Economics- ANITI Dynamic resource allocation problems arise under a variety of settings and have been studied across disciplines such as Operations Research and Computer Science. This work introduces a unifying model for a very large class of dynamic optimization problems. We show that this class encompasses a variety of disparate and classical dynamic optimization problems and we characterize the performance of the fluid certainty equivalent control heuristic for this class of problems. Revenue management with heterogeneous resources: Unit resource capacities, advance bookings, and itineraries over time intervals 1Marshall School of Business, University of Southern California; 2School of Operations Research and Information Engineering, Cornell University We consider revenue management problems with heterogeneous resources, each with unit capacity. An arriving customer makes a booking request for a particular interval of days. The goal is to find a policy that determines an assortment to offer each customer to maximize total expected revenue. We show that we can efficiently perform rollout on any static policy. We develop two static policies derived from value function approximations, and give performance guarantees for both policies. |