Optimal solution for a cargo revenue management problem with allotment and spot arrivals

A review of revenue management: Recent generalizations and advances in industry applications

“…see Han et al (2010), Huang and Chang (2010), Xiao and Yang (2010), Qin et al (2012), Zhuang et al (2012), Hoffmann (2013a), Hoffmann (2013b), and Moussawi-Haidar (2014.…”

Dynamic Pricing Decisions and Seller-Buyer Interactions under Capacity Constraints

“…The ex-post optimal price was higher than the overall equilibrium price in that condition; indeed, in the panel for Condition I16 in Figure 2, the highest mean ex-post round profit, which was higher than the equilibrium level by 3% (1401 versus 1360), was achieved by prices that were higher than the equilibrium level. 3 As it turns out, a majority proportion of 62.9% (198 out of 315) of the observed prices lay over the range of prices {100, 110, 120}, which includes the overall equilibrium level (100) and the ex-post optimal level (120). Specifically, many price observations (158 out of 315, or 50.2% of the observations, including seven outliers not 3 Statistical tests-using a GEE approach (see Section 5.4) to account for within subject/session dependencies-show that, in Condition I16, the ex-post round profit was higher than the overall equilibrium prediction at p < 0.01 when the period 1 price was 110 or 120, but not so (p > 0.1) when it was the overall equilibrium level of 100. plotted in Figure 4) were higher than the overall equilibrium, which was ex-post more profitable, on average, than the overall equilibrium price.…”

“…3 As it turns out, a majority proportion of 62.9% (198 out of 315) of the observed prices lay over the range of prices {100, 110, 120}, which includes the overall equilibrium level (100) and the ex-post optimal level (120). Specifically, many price observations (158 out of 315, or 50.2% of the observations, including seven outliers not 3 Statistical tests-using a GEE approach (see Section 5.4) to account for within subject/session dependencies-show that, in Condition I16, the ex-post round profit was higher than the overall equilibrium prediction at p < 0.01 when the period 1 price was 110 or 120, but not so (p > 0.1) when it was the overall equilibrium level of 100. plotted in Figure 4) were higher than the overall equilibrium, which was ex-post more profitable, on average, than the overall equilibrium price. In fact, pricing by the overall equilibrium level yielded an ex-post mean profit of 1349, which was slightly lower than the predicted 1360, and which render pricing at the ex-post optimal level more beneficial (as that would lead to an increase in 3.8% of ex-post mean profit).…”

“…An important set of tools in revenue management and capacity management are pricing strategies, such as airline fare classes and cargo capacity bidding mechanisms (see [2,3]). The present study focuses on a major type of these strategies, namely, dynamic pricing-the adjustment of prices over time.…”

Carrier and Freight Forwarders Strategies to Utilize the Immobile Shipping Capacity of Freight Forwarders and Maximize Profits

“…In contrast, Bing and Bhatnagar (2013) proposed a model of capacity booking to be divided into several periods of the goods delivery. Likewise, another study introduced two capacity procurement patterns based on booking and non-booking capacity (Moussawi-Haidar, 2014). Approaching departure time, the carrier applies direct capacity sales with a first-infirst serve system.…”