| Loon Ching Tang
Head of department of Industrial and System Engineering
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【主题】Air Cargo Revenue Management: Short term pricing and long term allotment
【时间】2009-9-14 10:30-12:00
【地点】清华经管学院 舜德418
【语言】英文
【内容摘要】
We consider the capacity allocation problem in single-leg air cargo revenue management in which a fraction is reserved for spot market and the remainder for long term allotment. For the spot market, we assume that each cargo booking request is endowed with a random weight, volume and profit rate and propose a Markovian model for the booking request/acceptance/rejection process. The decision on whether to accept the booking request or to reserve the capacity for future bookings follows a bid-price control policy. In particular, a cargo will be accepted only when the revenue from accepting it exceeds the opportunity cost, which is calculated based on bid prices. Optimal solutions are derived by maximizing a reward function of a Markov chain. Finally, we discuss some preliminary result for the long term allocation problem.
【主讲人简介】
Dr LC Tang is an Associate Professor and Head of the Department of Industrial and Systems Engineering. He obtained a Ph.D degree from Cornell University in the field of Operations Research with minors in Statistics and Civil Engineering. Dr LC Tang has published more than 70 SCI papers in a variety of international peer-review journals, including IEEE Transactions on Reliability, Journal of Quality Technology, Naval Research Logistics and Queueing Systems. He is on the editorial review board of the Journal of Quality Technology and has been an active reviewer for about 30 international journals. He has been consulted on problems demanding innovative applications of probability, statistics and other operations research techniques. He is the main author of the book, “Six Sigma: Advanced Tools for BB and MBB” (John Wiley) which was presented with the inaugural Masing Book Prize on the International Academy for Quality in 2007. He is also the co-author of a book on stochastic processes, Markov-Modulated Processes and Semiregenerative Phenomena.
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