A Multiproduct Dynamic Pricing Problem and Its Applications to Network Yield Management

摘要: A firm has inventories of a set components that are used to produce products. There is finite horizon over which the can sell its Demand for each product stochastic point process with an intensity function vector prices products and time at these offered. The problem price finished so as maximize total expected revenue sales horizon. An upper bound on optimal established by analyzing deterministic version problem. solution suggests two heuristics shown be asymptotically volume tends infinity. Several applications model network yield management given. Numerical examples illustrate both range problems modeled under this framework effectiveness proposed heuristics. results provide several fundamental insights into performance systems.