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We consider the simultaneous seat-inventory control of a set of parallel flights between a common origin and destination with dynamic customer choice among the flights. We formulate the problem as an extension of the classic multiperiod, single-flight " block demand " revenue management model. The resulting Markov decision process is quite complex, owing to(More)
We develop a Markov decision process formulation of a dynamic pricing problem for multiple substitutable flights between the same origin and destination, taking into account customer choice among the flights. The model is rendered computationally intractable for exact solution by its multi-dimensional state and action spaces, so we develop and analyze(More)
In recent years, the fractional derivative has been recognized as a powerful modeling methodology. Based on the wildly applications in engineering and sciences such as physics, mechanics, chemistry, economics and biology, research on fractional order systems is active and extensive around the world. The objective of this special issue is to report and(More)
in recent years, yet few papers provide effective computational approaches to solve the problem. We consider a resource decomposition approach to solve the problem and investigate the performance of the approach in a computational study. We compare the performance of the approach to three alternative approaches: static pricing, static bid-price control, and(More)
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Proof of Lemma 1. We first prove part 1. If β = 0, then h(θ, β) = 0 for all θ. Hence 0 is the unique fixed point. In the remainder of the proof, we consider the case β > 0. To establish the existence of a fixed point, observe that h(·, β) is continuous and 0 ≤ h(·, β) ≤ 1, so h(·, β) must have at least one fixed point θ on [0, 1]. We have assumed that c >(More)
W e study the effect of strategic customer behavior on pricing and rationing decisions of a firm selling a single product over two periods. The seller may limit the availability of the product (that is, ration) in the second (clearance) period. Some customers are strategic and respond to the firm's decisions by timing their purchases. When capacity is(More)
Synchronous blinking jamming is an effective countermeasure against radar seeker. It causes line-of-sight angle to step continuously between the two angular positions through jamming resources emit by turns. Seeker antenna always adjusts to track the line-of-sight angle in synchronous blinking jamming, so the oscillation of antenna is produced. According to(More)
Both asset management's complexity and educational funds' shortage require universities to strengthen budget management in practice. This paper firstly analyzes the relation between asset management and budget management, and finds out asset management need obey the target of budget management in all aspects, namely, asset purchase aspect, asset allocation(More)