Network Revenue Management Algorithms
Date, Time, Venue
9 May 2012, Wednesday at 10.30
Executive Suit, 1st floor, Engineering Front Building University College London
Network revenue management is about maximizing revenue from sales and arises in the following industries: hotel, rental cars, airline, online ad allocation and in general, whenever bundles of products using limited resources have to be sold in advance. We present the problem using the three main models of customer purchase behavior and the (intractable) dynamic programs that model the optimization problem. We then discuss the various approximation algorithms, their relationships, performance and scalability to industrial-size problems.
Kalyan Talluri is a ICREA Research Professor in the Department of Economics and Business at the Universitat Pompeu Fabra in Barcelona. He got his Masters from Purdue University and a Ph.D in Operations Research from MIT. He has taught at the Kellogg School of Management, Northwestern University and INSEAD. His research interests are in pricing of consumer goods and services and the operational implementation of pricing tactics. He has published in OR and Management journals and is the co-winner of the INFORMS Lanchester Prize for the year 2005.