DocumentCode
2767748
Title
Dynamic pricing model in tourism attractions
Author
You, Yang ; Luo, Li ; Luo, Taibo
Author_Institution
Service Manage. Inst. of Bus. Sch., Sichuan Univ., Chengdu, China
fYear
2012
fDate
2-4 July 2012
Firstpage
513
Lastpage
517
Abstract
Based on dynamic pricing of revenue management methods, considering that attractions can´t refuse tourists and have the largest tolerance, (1) set up a corresponding dynamic programming model of Markov decision process, (2) propose the ticket pricing strategies and get some properties such as that the profit function decreases with time increasing and increases with ticket number increasing. Finally, the numerical example verified the effectiveness of the model.
Keywords
Markov processes; decision theory; dynamic programming; pricing; profitability; travel industry; Markov decision process; dynamic pricing model; dynamic programming model; profit function; revenue management method; ticket pricing strategies; tourism attraction; tourists; Biological system modeling; Dynamic programming; Economics; Industries; Markov processes; Pricing; Waste materials; Dynamic pricing; Revenue management; Tourist attractions;
fLanguage
English
Publisher
ieee
Conference_Titel
Service Systems and Service Management (ICSSSM), 2012 9th International Conference on
Conference_Location
Shanghai
Print_ISBN
978-1-4577-2024-6
Type
conf
DOI
10.1109/ICSSSM.2012.6252290
Filename
6252290
Link To Document