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A Tractable Consideration Set Structure for Network Revenue Management

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  • Arne Strauss
  • Kalyan Talluri
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    Abstract

    The dynamic program for choice network RM is intractable and approximated by a deterministic linear program called the CDLP. When the segment consideration sets overlap, the CDLP is difficult to solve. A weaker formulation (SDCP+) is tractable and approximates the CDLP value very closely. We show that if the segment consideration sets follow a tree structure, the two problems are equivalent, and give a counterexample to show that cycles can induce a gap between CDLP and the relaxation.

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    File URL: http://research.barcelonagse.eu/tmp/working_papers/606.pdf
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    Bibliographic Info

    Paper provided by Barcelona Graduate School of Economics in its series Working Papers with number 606.

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    Date of creation: Feb 2012
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    Handle: RePEc:bge:wpaper:606

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    Keywords: discrete-choice models; network revenue management; consideration sets;

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    References

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    1. Meissner, Joern & Strauss, Arne, 2012. "Network revenue management with inventory-sensitive bid prices and customer choice," European Journal of Operational Research, Elsevier, vol. 216(2), pages 459-468.
    2. Joern Meissner & Arne Strauss & Kalyan Talluri, 2011. "An enhanced concave program relaxation for choice network revenue management," Economics Working Papers 1259, Department of Economics and Business, Universitat Pompeu Fabra, revised Aug 2011.
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    Cited by:
    1. Sumit Kunnumkal & Kalyan Talluri, 2012. "A new compact linear programming formulation for choice network revenue management," Economics Working Papers 1349, Department of Economics and Business, Universitat Pompeu Fabra.
    2. Summit Kunnumkal & Kalyan Talluri, 2012. "A New Compact Linear Programming Formulation for Choice Network Revenue Management," Working Papers 677, Barcelona Graduate School of Economics.

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