Russell C H Cheng

Optimal Pricing Policies for Perishable Products

  • Miguel F. Anjos
  • Russell C H Cheng
  • Christine S M Currie
    • Categories Airline Optimization, Applications - OR and Management Sciences, Yield Management Tags , , , ,

    In many industrial settings, managers face the problem of establishing a pricing policy that maximizes the revenue from selling a given inventory of items by a fixed deadline, with the full inventory of items being available for sale from the beginning of the selling period. This problem arises in a variety of industries, including the … Read more

    Maximising Revenue in the Airline Industry Under One-Way Pricing

  • Miguel F. Anjos
  • Russell C H Cheng
  • Christine S M Currie
    • Categories Airline Optimization, Applications - OR and Management Sciences, Yield Management Tags , , ,

    This paper describes a methodology that has been implemented in a major British airline to find the optimal price to charge for airline tickets under one-way pricing. An analytical model has been developed to describe the buying behaviour of customers for flights over the selling period. Using this model and a standard analytical method for … Read more