Journal of Revenue and Pricing Management最新文献_第5页

Airline revenue management with segmented continuous pricing: methods and competitive effects 分段连续定价的航空公司收益管理:方法与竞争效应

IF 1.6

Journal of Revenue and Pricing Management Pub Date : 2023-12-03 DOI: 10.1057/s41272-023-00462-6

Yanbin Long, Peter Belobaba

{"title":"Airline revenue management with segmented continuous pricing: methods and competitive effects","authors":"Yanbin Long, Peter Belobaba","doi":"10.1057/s41272-023-00462-6","DOIUrl":"https://doi.org/10.1057/s41272-023-00462-6","url":null,"abstract":"With the introduction of IATA’s New Distribution Capability (NDC), airlines will no longer be limited to discrete fare classes for their fare product distribution but could show fare quotes from continuous ranges to booking requests. NDC will also allow airlines to present different fare quotes to passengers from different demand segments as identified by the airline. In theory, airlines can better extract passenger willingness to pay, and thus, see gains in revenue, by offering segmented continuous fare quotes to different passengers requesting to book. This paper describes the revenue management (RM) methods for Segmented Continuous Pricing and examines their potential effects on airlines’ revenue through simulations in the Passenger Origin–Destination Simulator (PODS). We describe a class-based algorithm for continuous pricing, a straightforward extension from the traditional methods used with existing RM systems. Our simulation results show that in a calibrated scenario in which only one airline adopts Segmented Continuous Pricing and has an 80% accuracy in identifying business versus leisure passenger booking requests, the first-mover airline can see as much as a 17% revenue gain, at the expense of competitors. The revenue gains come primarily from the leisure passenger segment by offering lower fares than competitors closer to departure. The first-mover airline loses bookings but does not see losses in revenue from the business passenger segment. We also explore potential response strategies by the competing airlines. We discover that competitors can reverse the first-mover’s revenue gain by removing their fare restrictions while still using traditional RM methods. We conclude that although adopting Segmented Continuous Pricing is promising in theory, its gains in practice will depend heavily on the competitive situation and the responses made by competing airlines.","PeriodicalId":46686,"journal":{"name":"Journal of Revenue and Pricing Management","volume":null,"pages":null},"PeriodicalIF":1.6,"publicationDate":"2023-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138493820","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 role of exchange rate on hotelier’s pricing decision and business performance: the case of Switzerland, a small open economy 汇率对酒店经营者定价决策和经营绩效的影响:以小型开放经济体瑞士为例

IF 1.6

Journal of Revenue and Pricing Management Pub Date : 2023-11-28 DOI: 10.1057/s41272-023-00461-7

Isabella Blengini, Cindy Yoonjoung Heo

引用次数: 0

Elasticity-integrated pricing and allocation heuristic for airline revenue management 航空公司收益管理的弹性集成定价与分配启发式方法

IF 1.6

Journal of Revenue and Pricing Management Pub Date : 2023-11-19 DOI: 10.1057/s41272-023-00454-6

Aparna Jayaram, R. K. Amit, Amit Agarwal, Xiaodong Luo

{"title":"Elasticity-integrated pricing and allocation heuristic for airline revenue management","authors":"Aparna Jayaram, R. K. Amit, Amit Agarwal, Xiaodong Luo","doi":"10.1057/s41272-023-00454-6","DOIUrl":"https://doi.org/10.1057/s41272-023-00454-6","url":null,"abstract":"Setting the right fares is a key lever for increasing operating profitability in the airline industry. It is crucial to design fares that are both appealing to passengers and contribute to an increase in airline revenue. Although airline revenue management techniques have evolved to capture customer-choice behavior, the pricing and allocation decisions continue to be taken independently. However, since they are linked, a single optimization model can address this shortcoming. This paper presents a joint optimization model (JOM) that considers product prices and their allocation quantities as decision variables. A sequential optimization technique that divides the model into two decision problems is adopted to cope with JOM’s complexity. The problem is divided into a master problem and a sub-problem, wherein product price changes are made in the master problem and, with these fixed prices, optimization is performed in the sub-problem. The sub-problem is solved by simplifying the non-linear JOM into a linear programming problem. The direction of product price changes in the master problem is identified using price elasticity of demand. A heuristic based on this concept is proposed and tested. The Elasticity-integrated Pricing and Allocation Heuristic (EPAH) is observed to produce a consistent increase in existing revenues.","PeriodicalId":46686,"journal":{"name":"Journal of Revenue and Pricing Management","volume":null,"pages":null},"PeriodicalIF":1.6,"publicationDate":"2023-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138517660","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

Equilibrium pricing structure in a differentiated duopoly: uniform vs. two-part pricing 差异化双寡头垄断的均衡定价结构:统一定价与两部分定价

IF 1.6

Journal of Revenue and Pricing Management Pub Date : 2023-11-18 DOI: 10.1057/s41272-023-00452-8

Taeki Min, Kyung Jin Min, Hyung Jun Kim

{"title":"Equilibrium pricing structure in a differentiated duopoly: uniform vs. two-part pricing","authors":"Taeki Min, Kyung Jin Min, Hyung Jun Kim","doi":"10.1057/s41272-023-00452-8","DOIUrl":"https://doi.org/10.1057/s41272-023-00452-8","url":null,"abstract":"This paper investigates the effect of product substitutability on subgame perfect Nash equilibrium pricing structures (Uniform vs. Two-part Pricing) in a duopoly where each firm chooses its pricing policy first and then decides the level of the strategic variables (unit price and fixed fee) associated with the chosen pricing policy to maximize its own profit. Previous studies on two-part pricing in a monopoly situation showed that two-part pricing yields higher profits than uniform pricing, and we show that two-part pricing is also a subgame perfect Nash Equilibrium at all degrees of product substitutability even in a duopoly situation. However, this paper shows that if the degree of substitutability is quite high, uniform pricing can also become a subgame perfect Nash equilibrium strategy, although both firms can afford higher profits if both firms adopt two-part pricing. This paper also shows how the equilibrium unit price and fixed fee change as the product substitutability increases in each pricing structure and how the consumers in the market behave for these prices (purchase none, one of the products, or both). When both firms choose the two-part pricing policy, unit price and fixed fee show distinctive forms of U-shape and inverted U-shape as the substitutability increases, for which we explore the rationale.","PeriodicalId":46686,"journal":{"name":"Journal of Revenue and Pricing Management","volume":null,"pages":null},"PeriodicalIF":1.6,"publicationDate":"2023-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138517662","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

Does carbon pricing matter? An exploratory study based on international data 碳定价重要吗?基于国际数据的探索性研究

Journal of Revenue and Pricing Management Pub Date : 2023-11-11 DOI: 10.1057/s41272-023-00449-3

Praveen Kumar

引用次数: 0

The weakening pricing power of major brand over private label grocery products: evidence from a Dutch retailer 大品牌对自有品牌杂货产品的定价权减弱:来自一家荷兰零售商的证据

Journal of Revenue and Pricing Management Pub Date : 2023-11-09 DOI: 10.1057/s41272-023-00458-2

Hao Chen, Alvin Lim

引用次数: 0

Reevaluating the RevPASH formula: advancing analytical perspectives in restaurant revenue and yield management 重新评估RevPASH公式:提高餐厅收入和收益管理的分析视角

Journal of Revenue and Pricing Management Pub Date : 2023-11-08 DOI: 10.1057/s41272-023-00446-6

Melissa C Kalan

引用次数: 0

Transient price setting in the era of automated systems: the ‘hands-on’ hotel general manager lives on! 自动化系统时代的瞬时价格设定:“亲力亲为”的酒店总经理继续存在!

Journal of Revenue and Pricing Management Pub Date : 2023-11-07 DOI: 10.1057/s41272-023-00447-5

Natalie Haynes, David Egan

引用次数: 0

A dynamic pricing strategy model for Indian Railways 印度铁路动态定价策略模型

Journal of Revenue and Pricing Management Pub Date : 2023-11-04 DOI: 10.1057/s41272-023-00450-w

Kartikeya Singh, Pushkaraj Dhake, Sundaravalli Narayanaswami

引用次数: 0

Future of personalization in travel 个性化旅行的未来

Journal of Revenue and Pricing Management Pub Date : 2023-11-03 DOI: 10.1057/s41272-023-00460-8

B. Vinod

引用次数: 0