Wait or Buy? The Strategic Consumer: Pricing and Profit Implications

摘要: Using tools from operations research, airlines have, for many years, taken a strategic approach to pricing the seats available on particular flight based demand forecasts and information. The result of this is that same seat often offered at different fares times. Setting these prices using yield-management approaches major activity well studied in literature. However, consumers are becoming increasingly aware existence strategies used by airlines. In addition, availability airline travel Internet affords opportunity behave more strategically when making purchase decisions. onset information age makes it possible an informed consumer or third party, such as agent, obtain similar particular, agents historical data monitoring various given flight. If understands strategy has access information, he/she may decide defer ticket because they believe cheaper yet become available. were make use purchasing decisions, what would be impact revenues? purpose paper investigate impacts. This work indicates standard yield management can significantly reduced revenues buyers purchasing. Therefore, setting presenting prices, should effect their