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International Journal of Revenue Management最新文献

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Empirical study on conservative and representative heuristics of Hong Kong small investors adopting momentum and contrarian trading strategies 香港小投资者采用动量和逆向交易策略的保守性和代表性启发式实证研究
International Journal of Revenue Management Pub Date : 2017-11-16 DOI: 10.1504/ijrm.2018.10013081
W. Wong, S. Chow, Tai-Yuen Hon, KAI-YIN Woo
{"title":"Empirical study on conservative and representative heuristics of Hong Kong small investors adopting momentum and contrarian trading strategies","authors":"W. Wong, S. Chow, Tai-Yuen Hon, KAI-YIN Woo","doi":"10.1504/ijrm.2018.10013081","DOIUrl":"https://doi.org/10.1504/ijrm.2018.10013081","url":null,"abstract":"Recently, a new Bayesian approach has been developed to explain some market anomalies. In this paper, we conduct a questionnaire survey to examine whether the theory holds empirically by studying the conservative and representative heuristics by Hong Kong small investors who adopt momentum and/or contrarian trading strategies. In addition, our study provides evidence for the small investors on their time horizon and risk tolerance when facing uncertainty in their investments. Our findings are useful to small investors in their investment decision making and useful to financial advisors in providing service to small investors.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"10 1","pages":"146-167"},"PeriodicalIF":0.0,"publicationDate":"2017-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44579246","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 10
A reservation model for a single firm serving a market with strategic consumers 为具有战略消费者的市场服务的单个公司的保留模型
International Journal of Revenue Management Pub Date : 2017-05-15 DOI: 10.1504/IJRM.2017.084146
Ismail Civelek
{"title":"A reservation model for a single firm serving a market with strategic consumers","authors":"Ismail Civelek","doi":"10.1504/IJRM.2017.084146","DOIUrl":"https://doi.org/10.1504/IJRM.2017.084146","url":null,"abstract":"This paper considers a firm's reservation policy when it faces uncertain demand that depends on the strategic consumers. The modelling approach used in the present paper extends our understanding of reservations at a service firm (i.e., restaurants) when strategic consumers have outside options and different search costs. Consumers, in this study, are strategic due to different search costs, which include travelling, calling and inconvenience costs. The outside option represents the utility the consumer gets if he or she forgoes visiting the firm before knowing whether or not the product will be available. The model assumes exogenous price for the product in an equilibrium model and characterises the optimal reservation price, which is the price to hold a reservation, for the firm. The study evaluates the optimal reservation policy depending on the heterogeneity conditions of the strategic consumers and presents results based on the indifference values for search costs.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"10 1","pages":"15-27"},"PeriodicalIF":0.0,"publicationDate":"2017-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJRM.2017.084146","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46416306","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A call for exploratory data analysis in revenue management forecasting: a case study of a small and independent hotel in The Netherlands 呼吁在收入管理预测中进行探索性数据分析：以荷兰一家小型独立酒店为例
International Journal of Revenue Management Pub Date : 2017-05-15 DOI: 10.1504/IJRM.2017.084147
D. Sierag, J. Rest, G. Koole, R. V. D. Mei, B. Zwart
{"title":"A call for exploratory data analysis in revenue management forecasting: a case study of a small and independent hotel in The Netherlands","authors":"D. Sierag, J. Rest, G. Koole, R. V. D. Mei, B. Zwart","doi":"10.1504/IJRM.2017.084147","DOIUrl":"https://doi.org/10.1504/IJRM.2017.084147","url":null,"abstract":"Using five years of data collected from a small and independent hotel this case study explores RMS data as a means to seek new insights into occupancy forecasting. The study provides empirical evidence on the random nature of group cancellations, an important but neglected aspect in hotel revenue management modelling. The empirical study also shows that in a local market context demand differs significantly per point of time during the day, in addition to seasonal monthly and weekly demand patterns. Moreover, the study presents evidence on the nonhomogeneous Poisson nature of the probability distribution that demand follows, a crucial characteristic for forecasting modelling that is generally assumed but not reported in the hotel forecasting literature. This implies that demand is more uncertain for smaller than for larger hotels. The paper concludes by drawing attention to the critical and often overlooked role of exploratory data analysis in hotel revenue management forecasting.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"10 1","pages":"28-51"},"PeriodicalIF":0.0,"publicationDate":"2017-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJRM.2017.084147","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49536840","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
Pricing of excess inventory on Groupon 超额库存在Groupon上的定价
International Journal of Revenue Management Pub Date : 2017-05-15 DOI: 10.1504/IJRM.2017.084152
Kyle D. S. Maclean, John G. Wilson, Srinivas Krishnamoorthy
{"title":"Pricing of excess inventory on Groupon","authors":"Kyle D. S. Maclean, John G. Wilson, Srinivas Krishnamoorthy","doi":"10.1504/IJRM.2017.084152","DOIUrl":"https://doi.org/10.1504/IJRM.2017.084152","url":null,"abstract":"We consider the problem faced by a business that is considering using the Groupon platform to sell excess inventory. We discuss how demand functions can be derived using management knowledge. Then, using a single period model where excess inventory is exogenous, we show that the decision to use Groupon and the price to set on that channel depend on two parameters: the relative price sensitivity of Groupon customers as compared to the retailer's regular customers and the relative size of the Groupon market as compared to the regular market. Under a two-period model, when initial inventory is a decision, we show optimal inventory quantities. Our two-period model suggests that managers may plan on using Groupon and order inventory accordingly. We discuss the implications on third party channels as well as retail managers.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"10 1","pages":"52-74"},"PeriodicalIF":0.0,"publicationDate":"2017-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJRM.2017.084152","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45557521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The fiscal provisions on existing legal frameworks governing the oil sector in the Republic of South Sudan 关于管理南苏丹共和国石油部门的现有法律框架的财政规定
International Journal of Revenue Management Pub Date : 2017-05-15 DOI: 10.1504/IJRM.2017.084145
Isaac Yak Repha Tutdel, Zhen Wang, Abimelech Paye Gbatu
{"title":"The fiscal provisions on existing legal frameworks governing the oil sector in the Republic of South Sudan","authors":"Isaac Yak Repha Tutdel, Zhen Wang, Abimelech Paye Gbatu","doi":"10.1504/IJRM.2017.084145","DOIUrl":"https://doi.org/10.1504/IJRM.2017.084145","url":null,"abstract":"The Republic of South Sudan (RSS) is endowed with vast oil resources that are being produced by foreign oil companies (FOCs). However, it has been observed that the existing PSC contains some provisions that are inconsistent with international best practices. This paper explores, extracts and analyses the fiscal provisions in the existing legal framework of the PSCs that governs the oil sector in the RSS. All the appropriate legal regimes governing post-petroleum sector in South Sudan have been revisited and their fiscal provisions have been analysed. After reviewing the legal texts of the Transitional Constitution, the Petroleum Act, the exploration and production sharing agreements (EPSAs), the transitional agreements (TAs) and other relevant documents attached to the petroleum sector, the paper identifies some shortcomings of the PSCs such as lack of royalty and taxes. Henceforth, the paper provides policy recommendations for the institutional management of the petroleum sector in the RSS.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"10 1","pages":"1-14"},"PeriodicalIF":0.0,"publicationDate":"2017-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJRM.2017.084145","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43683347","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Optimisation of logistics network of a multinational firm under uncertainty 不确定条件下跨国公司物流网络优化研究
International Journal of Revenue Management Pub Date : 2016-10-17 DOI: 10.1504/IJRM.2016.10000587
Zhili Tian
{"title":"Optimisation of logistics network of a multinational firm under uncertainty","authors":"Zhili Tian","doi":"10.1504/IJRM.2016.10000587","DOIUrl":"https://doi.org/10.1504/IJRM.2016.10000587","url":null,"abstract":"The problem of optimally determining the locations of plants and distribution centres for multinational firms is considered. This problem is formulated as a mixed-integer non-linear program which maximises the expected after-tax profit. Uncertainties of exchange rates and demand are considered in determining the facility locations. Heuristics to solve the problem are developed and bounds to evaluate the quality of the heuristics are derived. These methods are tested with data from a leading multinational manufacturer. The results show that the developed techniques have significant potential to maximise the profits of a multinational firm.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"21 1","pages":"252-272"},"PeriodicalIF":0.0,"publicationDate":"2016-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66705949","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
The impact of financial crisis on bank revenue management 金融危机对银行收益管理的影响
International Journal of Revenue Management Pub Date : 2016-10-17 DOI: 10.1504/IJRM.2016.10000588
L. Eng, Joohyung Ha
{"title":"The impact of financial crisis on bank revenue management","authors":"L. Eng, Joohyung Ha","doi":"10.1504/IJRM.2016.10000588","DOIUrl":"https://doi.org/10.1504/IJRM.2016.10000588","url":null,"abstract":"This paper examines bank management of revenue through loan loss provisions (LLPs) during the period of 2003-2013. The sample period includes the financial crisis of 2008-2009, during which banks experienced revenue slowdowns owing to plunging mortgage lending activity. We examine whether LLPs are significantly different between the pre- and post-crisis periods. Our findings indicate that LLPs are not lower after the crisis; that is, banks are not using LLPs to manage earnings upward and smooth earnings in the post-crisis period. We also examine the effect of regulatory intervention on LLPs, measuring regulatory intervention using three variables: capital ratio, liquidity of assets, and bank size. Our findings indicate that banks that are less likely to face regulatory intervention are more likely to use LLPs to manage earnings upward and to smooth earnings in the post-crisis period.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"9 1","pages":"273-290"},"PeriodicalIF":0.0,"publicationDate":"2016-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66705962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A bargaining framework for the airline alliance revenue sharing problem 航空联盟收益分享问题的议价框架
International Journal of Revenue Management Pub Date : 2016-10-17 DOI: 10.1504/IJRM.2016.079817
S. Venkataraman, Parthasarathy Ramachandran
{"title":"A bargaining framework for the airline alliance revenue sharing problem","authors":"S. Venkataraman, Parthasarathy Ramachandran","doi":"10.1504/IJRM.2016.079817","DOIUrl":"https://doi.org/10.1504/IJRM.2016.079817","url":null,"abstract":"The main objective of complementary code share flights is to increase scope of the partner's network. When complementary codeshared flights aim at maximising their combined revenue, it might lead to inequitable distribution of revenue. Through this work, we address this issue of achieving a fair division of the combined revenue generated by the alliance network. Information of an airline's valuation of their product is typically private and could be overstated to increase their share of revenue generated through codeshare agreements. We therefore develop a bargaining framework and derive the conditions under which a specific point in Core of the cooperative game can be achieved.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"9 1","pages":"201-220"},"PeriodicalIF":0.0,"publicationDate":"2016-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJRM.2016.079817","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66705889","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Relationship between hotel rate increases and discounts and consumers' willingness-to-purchase: a prospect theory perspective 酒店涨价和折扣与消费者购买意愿的关系:前景理论视角
International Journal of Revenue Management Pub Date : 2016-06-20 DOI: 10.1504/IJRM.2016.077018
Scott J. Smith
{"title":"Relationship between hotel rate increases and discounts and consumers' willingness-to-purchase: a prospect theory perspective","authors":"Scott J. Smith","doi":"10.1504/IJRM.2016.077018","DOIUrl":"https://doi.org/10.1504/IJRM.2016.077018","url":null,"abstract":"The objective of this research study was to determine the effect of hotel rate increases and discounts against a reference price in an effort to determine if consumer willingness-to-purchase rises and fall accordingly with the changes. The results of price increases against a reference price indicated that as the rates rose, a consumer's willingness-to-purchase decreased in direct relation to the magnitude of the increase. The results for rate discounts when compared to an established reference provided a non-linear relationship, and at certain levels provided no significant change in a consumer's willingness-to-purchase. This is an interesting finding that there is a nonlinear relationship between hotel rate discounts and consumers' willingness to pay. It explains some of the dilemmas faced by hotel managers with reference to hotel rate discounts and increases.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"9 1","pages":"108-126"},"PeriodicalIF":0.0,"publicationDate":"2016-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJRM.2016.077018","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66705727","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Behavioural pricing opportunities in tourism destinations: a collaborative approach 旅游目的地的行为定价机会:合作方法
International Journal of Revenue Management Pub Date : 2016-06-20 DOI: 10.1504/IJRM.2016.077020
H. Kuokkanen
{"title":"Behavioural pricing opportunities in tourism destinations: a collaborative approach","authors":"H. Kuokkanen","doi":"10.1504/IJRM.2016.077020","DOIUrl":"https://doi.org/10.1504/IJRM.2016.077020","url":null,"abstract":"This paper proposes collaborative behavioural pricing strategies to attract additional demand and revenue to a tourism destination. Unlike previous work, it emphasises opportunities to cooperate across tourism-linked businesses not owned by the same entity. Prospect theory (Kahneman and Tversky, 1979) suggests that every spending decision creates disutility to a consumer, but that the marginal disutility of consumption decreases as the expenditure increases. Thus cross-business packages offered in a destination can lead to two types of benefits. First, they increase total visitor expenditure even when additional discounts are offered. Second, with pre-purchase of in-destination services, visitors face fewer spending decisions on arrival, and the resulting reduction in disutility increases their willingness to commit to additional spending. The proposed framework temporally divides visitor spending behaviour before and during the visit to analyse the potential benefits of collaboration. The model is illustrated by a numerical example and future research avenues for testing the framework are outlined.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"9 1","pages":"186-200"},"PeriodicalIF":0.0,"publicationDate":"2016-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/IJRM.2016.077020","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66705753","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
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