Description
Revenue management (RM) attempts to understand and shape consumer behavior to maximize revenue from a perishable resource. Various algorithms can be used to control bid-prices, and subsequently, perform differently with respect to the total network revenue that they generate. There is currently a need for some method to compare RM engines; a simulation can fulfill this need.
The first module of this thesis will create a statistically accurate representation of customers arriving at ticket purchasing channels. Each customer's attributes are: arrival time, origin and destination, number of destined tickets, and willingness to pay. Each attribute can be generated using a specific distribution.
The created customers will then be used to simulate the purchase of tickets and overall revenue for a flight network. With a valid simulation, airlines will be able to compare the performance of different RM engines under various circumstances.
The first module of this thesis will create a statistically accurate representation of customers arriving at ticket purchasing channels. Each customer's attributes are: arrival time, origin and destination, number of destined tickets, and willingness to pay. Each attribute can be generated using a specific distribution.
The created customers will then be used to simulate the purchase of tickets and overall revenue for a flight network. With a valid simulation, airlines will be able to compare the performance of different RM engines under various circumstances.
Copyright Statement
Details
Title
- Simulating The Performance of Various Revenue Managment Engines
Contributors
- Fischer, Amanda (Author)
- Gel, Esma (Thesis director)
- Jacobs, Tim (Thesis director)
- Purnomo, Hadi (Committee member)
- Industrial, Systems and Operations Engineering Program (Contributor)
- Barrett, The Honors College (Contributor)
Date Created
The date the item was original created (prior to any relationship with the ASU Digital Repositories.)
2012-05
Resource Type
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