Resilient revenue management:A literature survey of recent theoretical advances

Cleophas, Catherine and Kadatz, Daniel and Vock, Sebastian (2017) Resilient revenue management:A literature survey of recent theoretical advances. Journal of Revenue and Pricing Management, 16 (5). pp. 483-498. ISSN 1476-6930

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Abstract

Recently, resilience has emerged as a concept that describes a system's ability to persist and adapt under uncertainty. Revenue management is a textbook example of planning under uncertainty-A ny revenue optimisation model relies on a range of assumptions, among them the accuracy of the demand forecast. Revenue management's objective is to maximise revenue given uncertain market conditions, capacity, and even fares. This contribution reviews recent advances in making revenue management more resilient. To this end, it identifies and categorises uncertainties that affect the revenue management process. In the resulting framework, we review contributions aiming to increase solutions' ability to persist or adapt, listing relevant references by their focus and character. Thereby, we contribute a comprehensive review of research accumulated in the last ten years, outline a research agenda, and thus prepare the ground for further research efforts.

Item Type:
Journal Article
Journal or Publication Title:
Journal of Revenue and Pricing Management
Additional Information:
The final publication is available at Springer via http://dx.doi.org/10.1057/s41272-017-0087-z
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/1400/1408
Subjects:
ID Code:
87919
Deposited By:
Deposited On:
30 Oct 2017 10:16
Refereed?:
Yes
Published?:
Published
Last Modified:
22 Sep 2020 03:27