Callable products for an implicit time model with dependent demands
研究了航空、酒店等容量提供商如何通过可召回产品，在隐式时间模型下提升利润和消费者福利，数值实验找出了显著增益的条件。
Abstract Capacity providers such as airlines and hotels have traditionally increased revenues by practicing market segmentation and revenue management, enabling them to sell the same capacity pool to different consumers at different prices. Callable products can enhance profits and improve consumers' welfare by allowing the firm to broker capacity between consumers with different willingness to pay. A consumer who buys a callable product gives the capacity provider the right to recall capacity at a prespecified recall price. This article studies callable products in the context of the model most commonly used in industry, which handles time implicitly imposing fewer restrictions on the nature of randomness compared to the Poisson arrival process favored in academia. In the implicit time model, capacity providers set booking limits to protect capacity for future high‐fare demand. Our numerical study identifies conditions where callable products result in significant gains in profits.