Hart, Schaffner & Marx Prize Essays, IV. Federal Regulation of Railway Rates

Hart, Schaffner & Marx Prize Essays, IV. Federal Regulation of Railway Rates

Author: Albert N. Merritt

Publisher: Trieste Publishing

Published: 2017-09-17

Total Pages: 266

ISBN-13: 9780649582129

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Risk-Averse Capacity Control in Revenue Management

Risk-Averse Capacity Control in Revenue Management

Author: Christiane Barz

Publisher: Springer Science & Business Media

Published: 2007-08-16

Total Pages: 173

ISBN-13: 3540730141

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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.