Dynamic pricing with two revenue streams
We study casino revenue management through the pricing of hotel rooms in the presence of gaming revenue, which is random. We identify a stochastic order based on customers’ gaming profiles, from which a monotonic inventory price of rooms is obtained. We develop a threshold-type pricing policy for a...
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| Main Authors: | , |
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| 其他作者: | |
| 格式: | Article |
| 語言: | English |
| 出版: |
2013
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| 主題: | |
| 在線閱讀: | https://hdl.handle.net/10356/98825 http://hdl.handle.net/10220/17115 |
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| 機構: | Nanyang Technological University |
| 語言: | English |
| 總結: | We study casino revenue management through the pricing of hotel rooms in the presence of gaming revenue, which is random. We identify a stochastic order based on customers’ gaming profiles, from which a monotonic inventory price of rooms is obtained. We develop a threshold-type pricing policy for a special customer segmentation scheme that allows customers’ winning profiles to be ranked in terms of the failure rate order. Our results shed new light on customer valuation and market segmentation. |
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