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Revenue Management and E-Commerce

  • E. Andrew Boyd


    (PROS Revenue Management, 3100 Main Street, Houston, Texas 77002)

  • Ioana C. Bilegan


    (LAAS-CNRS and ENAC, 7, avenue du Colonel Roche, 31077 Toulouse, France)

Registered author(s):

    We trace the history of revenue management in an effort to illustrate a successful e--commerce model of dynamic, automated sales. Our discourse begins with a brief overview of electronic distribution as practiced in the airline industry, emphasizing the fundamental role of central reservation and revenue management systems. Methods for controlling the sale of inventory are then introduced along with related techniques for optimization and forecasting. Research contributions and areas of significant research potential are given special attention. We conclude by looking at how revenue management is practiced outside of the airline industry, its relationship to dynamic pricing, and future directions for the discipline.

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    Article provided by INFORMS in its journal Management Science.

    Volume (Year): 49 (2003)
    Issue (Month): 10 (October)
    Pages: 1363-1386

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    Handle: RePEc:inm:ormnsc:v:49:y:2003:i:10:p:1363-1386
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    1. Kalyan Talluri & Garrett van Ryzin, 1998. "An Analysis of Bid-Price Controls for Network Revenue Management," Management Science, INFORMS, vol. 44(11-Part-1), pages 1577-1593, November.
    2. Alstrup, Jens & Boas, Soren & Madsen, Oli B. G. & Vidal, ReneVictor Valqui, 1986. "Booking policy for flights with two types of passengers," European Journal of Operational Research, Elsevier, vol. 27(3), pages 274-288, December.
    3. Bodily, S. E. & Weatherford, L. R., 1995. "Perishable-asset revenue management: Generic and multiple-price yield management with diversion," Omega, Elsevier, vol. 23(2), pages 173-185, April.
    4. Fildes, Robert & Hibon, Michele & Makridakis, Spyros & Meade, Nigel, 1998. "Generalising about univariate forecasting methods: further empirical evidence," International Journal of Forecasting, Elsevier, vol. 14(3), pages 339-358, September.
    5. Belobaba, Peter P. & Wilson, John L., 1997. "Impacts of yield management in competitive airline markets," Journal of Air Transport Management, Elsevier, vol. 3(1), pages 3-9.
    6. Clemen, Robert T., 1989. "Combining forecasts: A review and annotated bibliography," International Journal of Forecasting, Elsevier, vol. 5(4), pages 559-583.
    7. Ladany, SP & Bedi, DN, 1977. "Dynamic booking rules for flights with an intermediate stop," Omega, Elsevier, vol. 5(6), pages 721-730.
    8. Armstrong, J. Scott & Collopy, Fred, 1992. "Error measures for generalizing about forecasting methods: Empirical comparisons," International Journal of Forecasting, Elsevier, vol. 8(1), pages 69-80, June.
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