Simulating The Performance of Various Revenue Managment Engines
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.
Date Created
The date the item was original created (prior to any relationship with the ASU Digital Repositories.)
2012-05
Agent
- Author (aut): Fischer, Amanda
- Thesis director: Gel, Esma
- Thesis director: Jacobs, Tim
- Committee member: Purnomo, Hadi
- Contributor (ctb): Industrial, Systems and Operations Engineering Program
- Contributor (ctb): Barrett, The Honors College