Mechanism design in an integrated approach towards revenue management: The case of Empress Cruise Lines

Ng, I.C.L. and Yip, Nick (2011) Mechanism design in an integrated approach towards revenue management: The case of Empress Cruise Lines. The Service Industries Journal, 31 (3). pp. 469-482. ISSN 1743-9507

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Abstract

This paper investigates an integrated form of revenue management through the case of Empress Cruise Lines (ECL). The case highlights a multidisciplinary approach towards how demand and supply factors should be integrated in the form of four decision sets in revenue management decisions – the value set, the segmentation set, the sensitivity set and the forecasting/allocation set. Also, the use of mechanism design allows the firm to separate markets for better forecasting of revenue from each segment. The case also shows that segments could be incentivized to behave differently, and to behave in alignment with ECL's policies so that capacity could be optimally allocated and revenue maximized.

Item Type:	Article
Faculty \ School:	Faculty of Social Sciences > Norwich Business School
UEA Research Groups:	Faculty of Social Sciences > Research Groups > Marketing, Entrepreneurship and Business Strategy (former - to 2019) Faculty of Social Sciences > Research Groups > Marketing
Depositing User:	Vishal Gautam
Date Deposited:	13 Jan 2011 10:40
Last Modified:	16 Jan 2024 01:20
URI:	https://ueaeprints.uea.ac.uk/id/eprint/19128
DOI:	10.1080/02642060902838303

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