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...

وصف كامل

محفوظ في:
التفاصيل البيبلوغرافية
المؤلفون الرئيسيون: Li, Michael Z. F., Zhuang, Weifen
مؤلفون آخرون: Nanyang Business School
التنسيق: مقال
اللغة:English
منشور في: 2013
الموضوعات:
الوصول للمادة أونلاين:https://hdl.handle.net/10356/98825
http://hdl.handle.net/10220/17115
الوسوم: إضافة وسم
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المؤسسة: Nanyang Technological University
اللغة: English
الوصف
الملخص: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.