Title :
The Decision Policies of Accepting or Rejecting Rental Request on Its Different Start and End Time
Author :
Yu Xiong ; Yu Zhou
Author_Institution :
York Manage. Sch., Univ. of York, York, UK
Abstract :
Housing rental is a huge market across the world, this paper supposes that landlords offer different products distinguished by their different length of duration. When a rental request arrives, landlords´ empirical choice to accept or reject it might not be a sensible decision making the expected revenue maximized in a long-term view. We structure a model to compare revenue densities of alternative choices and offer complementary numerical examples based on collected data. The result shows that landlords can make a specific choice and optimize their revenue according to our decision policy. The outcome can also be applied in general rental industry.
Keywords :
decision making; property market; rental; decision making; decision policy; general rental industry; housing rental request acceptance; housing rental request rejection; revenue densities; revenue management; Business; Cities and towns; Contracts; Costs; Decision making; Educational institutions; Mathematical model; Mathematics; Privatization; Sociology;
Conference_Titel :
Management and Service Science, 2009. MASS '09. International Conference on
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-4638-4
Electronic_ISBN :
978-1-4244-4639-1
DOI :
10.1109/ICMSS.2009.5301519