抄録
Perishable asset yield management has wide applications in airlines seat inventory control, rental car and hotel room reservations. In contrast to the research on optimal dynamic pricing that has taken place in the past decade, we examine the practical merit of a constant price policy. This means a single price is applied to an item throughout the sales cycle.. We present procedures to identify the optimal constant price for two different applications. In the first, there is full dilution and in the second there is no dilution (dilution is when a customer that is willing to pay a high price is satisfied at a low price). We also propose a more flexible constant price policy (hybrid method) in which prices can be changed at discrete intervals and we present a method for its optimal policy. Furthermore, this hybrid method is capable of incorporating the costs associated with price change explicitly.
