10h30 - 10h55
Some Properties of a Stochastic Bilevel Program (SBP) of Pricing Problem
This talk considers a tariff setting problem with stochastic demand and market prices and presents some properties of a two-stage SB model of pricing problem. Two examples have also been provided to illustrate our model.
10h55 - 11h20
Improved Bid Prices for Multistage Network Revenue Management
We present new and efficient mathematical programming methods to compute time-dependent bid prices to control the availability of products for a network revenue management problem with stochastic demand. The frequency to update the bid prices during the booking horizon is arbitrary, which makes our new procedures very flexible.
11h20 - 11h45
Towards Controlling the "Year-End Tsunami" in Government Expenditures: Insights from the Newsboy Problem
We present an interesting application of the Newsboy Problem in the context of allocating government operating expenditures. The results of the model suggest that it is reasonable that a government department have lapsed funding some of the time. It also suggests that the "use it or lose it" incentive that seems to govern the behavior of public sector financial managers is not a good one.