A flexible model for the pricing of perishable assets
AbstractWe present a flexible and versatile model which addresses the problem of assigning optimal prices to assets whose value becomes zero after a fixed expiry date. (Such assets include the important example of seats on airline flights.) Our model is broad in scope, in particular encompassing the ability to deal with arrivals of customers in groups. It is highly adaptable and can be adjusted to deal with a very extensive set of circumstances.
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Bibliographic InfoArticle provided by Elsevier in its journal Omega.
Volume (Year): 40 (2012)
Issue (Month): 5 ()
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Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/375/description#description
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- Shah, Nita H & Soni, Hardik N & Patel, Kamlesh A, 2013. "Optimizing inventory and marketing policy for non-instantaneous deteriorating items with generalized type deterioration and holding cost rates," Omega, Elsevier, vol. 41(2), pages 421-430.
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