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Capacity control in network revenue management : clustering and risk-aversion

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dc.contributor.advisor Vivek F. Farias. en_US
dc.contributor.author Park, Joongwoo Brian en_US
dc.contributor.other Massachusetts Institute of Technology. Dept. of Electrical Engineering and Computer Science. en_US
dc.date.accessioned 2010-09-02T14:55:00Z
dc.date.available 2010-09-02T14:55:00Z
dc.date.copyright 2010 en_US
dc.date.issued 2010 en_US
dc.identifier.uri http://hdl.handle.net/1721.1/58181
dc.description Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Electrical Engineering and Computer Science, 2010. en_US
dc.description Cataloged from PDF version of thesis. en_US
dc.description Includes bibliographical references (p. 53-54). en_US
dc.description.abstract Network revenue management is the practice of using optimal decision policies to increase revenues by controlling limited quantities of multiple resources' availability and prices over finite time. It is widely practiced in capacity-constrained service industries such as the airlines, hotels, car rentals, and cruise-lines. A variety of control methods has been introduced for network resource capacity control problem. We propose a clustering method to improve approximation quality. By clustering the legs of the network, one can find tighter upperbound than leg-wise decomposition with loss of computation speed due to larger state space. We have shown that there is more than 6% revenue improvement opportunity by finding the right clustering. With local interchange heuristic and generic heuristics, finding a locally optimal clustering can be done in faster time. We also introduce risk-aversion in network revenue management. We have investigated risk-aversion on network revenue management and also study the impact of risk-aversion parameters in the optimization model on relative revenue-risk performance. en_US
dc.description.statementofresponsibility by Joongwoo Brian Park. en_US
dc.format.extent 54 p. en_US
dc.language.iso eng en_US
dc.publisher Massachusetts Institute of Technology en_US
dc.rights M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. en_US
dc.rights.uri http://dspace.mit.edu/handle/1721.1/7582 en_US
dc.subject Electrical Engineering and Computer Science. en_US
dc.title Capacity control in network revenue management : clustering and risk-aversion en_US
dc.type Thesis en_US
dc.description.degree S.M. en_US
dc.contributor.department Massachusetts Institute of Technology. Dept. of Electrical Engineering and Computer Science. en_US
dc.identifier.oclc 635955071 en_US


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