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Customer behavior in revenue management.

Liu, Qian.

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Customer behavior in revenue management.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Customer behavior in revenue management./
Author:	Liu, Qian.
Description:	213 p.
Notes:	Adviser: Garrett van Ryzin.
Contained By:	Dissertation Abstracts International67-10B.
Subject:	Operations Research. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3237276
ISBN:	9780542916656

Customer behavior in revenue management.
Liu, Qian.

Customer behavior in revenue management. - 213 p.

Adviser: Garrett van Ryzin.

Thesis (Ph.D.)--Columbia University, 2006.

This thesis examines several topics incorporating customer choice behavior, customer strategic behavior and switching costs effects into revenue management.

ISBN: 9780542916656Subjects--Topical Terms:

626629
Operations Research.

Customer behavior in revenue management.
LDR:03233nam 2200313 a 45 001 964266
005 20110901
008 110901s2006 eng d
020 $a 9780542916656
035 $a (UMI)AAI3237276
035 $a AAI3237276
040 $a UMI $c UMI
100 1 $a Liu, Qian. $3 1253021
245 1 0 $a Customer behavior in revenue management.
300 $a 213 p.
500 $a Adviser: Garrett van Ryzin.
500 $a Source: Dissertation Abstracts International, Volume: 67-10, Section: B, page: 6035.
502 $a Thesis (Ph.D.)--Columbia University, 2006.
520 $a This thesis examines several topics incorporating customer choice behavior, customer strategic behavior and switching costs effects into revenue management.
520 $a Motivated by Gallego et al. [32]'s choice-based deterministic linear programming model proposed recently, we extend the analysis of this model in the first essay. Using the notion of "efficiency" developed by Talluri and van Ryzin [65], we show that only efficient sets are used in an optimal policy asymptotically. We develop a practical decomposition heuristic to dynamically generate control policies. Numerical examples show this heuristic significantly improves the performance of the static linear programming.
520 $a Two more essays address strategic purchase behavior when customers face different prices over time. We develop a stylized capacity rationing model, in which a firm can deliberately create shortages by under-stocking to induce early purchases at high prices. We show that a large number of high-value customers, risk aversion, large price differences over time and a low level of competition all tend to make rationing an optimal strategy.
520 $a Yet customers may not have fully rational expectations; instead, they may learn only through repeated experience. The second essay on this topic considers how a firm should use its capacity decision to profitably influence the customer learning process. We develop an adaptive learning model in which customers update expectations adaptively, and the firm's decision problem is imbedded in a dynamic program of capacity choices over time. We show that the market converges to either a rationing equilibrium or a low-price-only equilibrium. Indeed, a critical value of customer expectation determines which equilibrium is the long-run optimal outcome. We also show this equilibrium is the same as the rational expectation outcome when future profits are not discounted.
520 $a Finally, we examine switching costs effects on tactical pricing decisions, which are especially important in subscription and account-based services. There is a tradeoff between increasing revenue by charging current customers a high price versus pricing low to build for the future market share. We formulate an optimal pricing control model and show the optimal strategy is a simple "target market share" policy. We also extend the analysis to a duopoly market.
590 $a School code: 0054.
650 4 $a Operations Research. $3 626629
690 $a 0796
710 2 0 $a Columbia University. $3 571054
773 0 $t Dissertation Abstracts International $g 67-10B.
790 $a 0054
790 1 0 $a van Ryzin, Garrett, $e advisor
791 $a Ph.D.
792 $a 2006
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3237276