Impact of penalty cost on customers' booking decisions
We study a novel newsvendor-type problem where the information on demand quantity is not exogenously given. The customer needs to make the booking decision based on her estimation on demand, which is affected by the value of shortage penalty cost. The problem is motivated by low-cost airline service...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2021
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/6681 https://ink.library.smu.edu.sg/context/lkcsb_research/article/7680/viewcontent/Impact_of_Penalty_Cost_on_Customers__Booking.pdf |
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| Institution: | Singapore Management University |
| Language: | English |