Decision Biases in Revenue Management: Some Behavioral Evidence
Published Online:5 Aug 2008https://doi.org/10.1287/msom.1080.0229
References
- , Smith J. C. Operations research in experimental psychology. Tutorials in Operations Research: Emerging Theory, Methods, and Applications (2005) (INFORMS, Hanover, MD) 213–236Google Scholar
- A multi-attribute extension of the secretary problem: Theory and experiments. J. Math. Psych. (2005) 49:410–425Crossref, Google Scholar
- Sequential observation and selection with rank-dependent payoffs: An experimental test. Management Sci. (2006a) 52:1437–1449Link, Google Scholar
- Experimental studies of sequential selection and assignment with relative ranks. J. Behavioral Decision Making (2006b) 19:229–250Crossref, Google Scholar
- Contrasting stochastic and support theory accounts of subadditivity. J. Math. Psych. (2007) 51:229–241Crossref, Google Scholar
- Dynamic Programming (1957) (Princeton University Press, Princeton, NJ) Google Scholar
- An overview of pricing models for revenue management. Manufacturing Service Oper. Management (2003) 5:203–229Link, Google Scholar
- Periodic pricing of seasonal products in retailing. Management Sci. (1997) 43:64–78Link, Google Scholar
- Assessing the empirical validity of the “take-the-best” heuristic as a model of human probabilistic inference. J. Experiment. Psych.: Learn., Memory, Cognition (2000) 26:1332–1346Crossref, Google Scholar
- Airline seat allocation with multiple nested fare classes. Oper. Res. (1993) 41:127–137Link, Google Scholar
- Great Expectations: The Theory of Optimal Stopping (1971) (Houghton Mifflin Co., Boston) Google Scholar
- Laboratory experiments with a finite-horizon job-search model. J. Risk Uncertainty (1989) 2:301–330Crossref, Google Scholar
- Optimal dynamic pricing of inventories with stochastic demand over finite horizons. Management Sci. (1994) 40:999–1020Link, Google Scholar
- The ABC Research GroupSimple Heuristics That Make Us Smart (1999) (Oxford University Press, New York) Google Scholar
- Recognizing the maximum of a sequence. J. Amer. Statist. Assoc. (1966) 61:35–73Crossref, Google Scholar
- Mark-down pricing: An empirical analysis of policies and revenue potential at one apparel retailer. J. Revenue Pricing Management (2002) 1:139–160Crossref, Google Scholar
- Process models deserve process data. A comment on Brandstätter et al. (2006). Psych. Rev. (2008) 115:281–290Crossref, Google Scholar
- On the depth and dynamics of online search behavior. Management Sci. (2004) 50:299–308Link, Google Scholar
- A model for airline seat inventory control with multiple seat bookings. Transportation Sci. (1993) 27:1252–1265Link, Google Scholar
- Regression analyses of repeated measures data in cognitive research. J. Experiment. Psych.: Learn., Memory, Cognition (1990) 16:149–157Crossref, Google Scholar
- Revenue management: Research overview and prospects. Transportation Sci. (1999) 33:233–256Link, Google Scholar
- Take the best or look at the rest? Factors influencing “one-reason” decision making. J. Experiment. Psych.: Learn., Memory, Cognition (2003) 29:53–65Crossref, Google Scholar
- The dynamic and stochastic knapsack problem with deadlines. Management Sci. (1996) 42:155–172Link, Google Scholar
- Choice behaviour in an optimal stopping task. Organ. Behav. Human Performance (1970) 5:105–120Crossref, Google Scholar
- Economic search: An experimental study. Econom. Inquiry (1981) 19:1–25Crossref, Google Scholar
- Sequential decision making with relative ranks: An experimental investigation of the secretary problem. Organ. Behav. Human Decision Processes (1997) 69:221–236Crossref, Google Scholar
- Optimal stopping behavior with relative ranks: The secretary problem with unknown population size. J. Behavioral Decision Making (2000) 13:391–411Crossref, Google Scholar
- A behavioral model of rational choice. Quart. J. Econom. (1955) 69:99–118Crossref, Google Scholar
- The Theory and Practice of Revenue Management (2004) (Kluwer Academic Publishers, Norwell, MA) Crossref, Google Scholar
- A taxonomy and research overview of perishable-asset revenue management: Yield management, overbooking, and pricing. Oper. Res. (1992) 40:831–844Link, Google Scholar
- Optimal dynamic pricing for perishable assets with nonhomogenous demand. Management Sci. (2000) 46:375–388Link, Google Scholar

