Risk-Averse Capacity Control in Revenue Management (Lecture Notes in Economics and Mathematical Systems)

by Christiane Barz (Author)

• New

  Paperback
  2007

  $87.08

  This book revises the well-known capacity control problem in revenue management from the perspective of a risk-averse decision-maker. Modelling an expected utility maximizing decision maker, the problem is formulated as a risk-sensitive Markov decision process. Special emphasis is put on the existence of structured optimal policies.