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| Author: | Badinelli, R. |
| Title: | An optimal, dynamic policy for hotel yield management |
| Journal: | European Journal of Operational Research
2000 : MAR 16, VOL. 121:3, p. 476-503 |
| Index terms: | DYNAMIC PROGRAMMING REVENUE MANAGEMENT |
| Language: | eng |
| Abstract: | Most research into the yield management problem has generated variations on the marginal seat revenue models that are based on simplifying assumptions about the demand process and heuristic decision rules. In this paper, a dynamic programming formulation of the problem is given allowing for general demand patterns and a policy that is based on time and the number of vacancies. Furthermore, this policy incorporates both revealed-price and hidden-price market behavior. |
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