Rights statement: The final publication is available at Springer via http://dx.doi.org/10.1057/s41272-017-0087-z
Accepted author manuscript, 469 KB, PDF document
Available under license: CC BY-NC: Creative Commons Attribution-NonCommercial 4.0 International License
Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
<mark>Journal publication date</mark> | 1/10/2017 |
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<mark>Journal</mark> | Journal of Revenue and Pricing Management |
Issue number | 5 |
Volume | 16 |
Number of pages | 16 |
Pages (from-to) | 483-498 |
Publication Status | Published |
Early online date | 6/04/17 |
<mark>Original language</mark> | English |
Recently, resilience has emerged as a concept that describes a system's ability to persist and adapt under uncertainty. Revenue management is a textbook example of planning under uncertainty-A ny revenue optimisation model relies on a range of assumptions, among them the accuracy of the demand forecast. Revenue management's objective is to maximise revenue given uncertain market conditions, capacity, and even fares. This contribution reviews recent advances in making revenue management more resilient. To this end, it identifies and categorises uncertainties that affect the revenue management process. In the resulting framework, we review contributions aiming to increase solutions' ability to persist or adapt, listing relevant references by their focus and character. Thereby, we contribute a comprehensive review of research accumulated in the last ten years, outline a research agenda, and thus prepare the ground for further research efforts.