G
Guillermo Gallego
Researcher at Hong Kong University of Science and Technology
Publications - 165
Citations - 9419
Guillermo Gallego is an academic researcher from Hong Kong University of Science and Technology. The author has contributed to research in topics: Revenue management & Dynamic pricing. The author has an hindex of 44, co-authored 160 publications receiving 8482 citations. Previous affiliations of Guillermo Gallego include IBM & Newcastle University.
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Optimal dynamic pricing of inventories with stochastic demand over finite horizons
TL;DR: In this paper, the authors investigate the problem of dynamically pricing such inventories when demand is price sensitive and stochastic and the firm's objective is to maximize expected revenues, and obtain structural monotonicity results for the optimal intensity resp, price as a function of the stock level and the length of the horizon.
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The Distribution Free Newsboy Problem: Review and Extensions
Guillermo Gallego,Ilkyeong Moon +1 more
TL;DR: In this article, the optimality of Scarf's ordering rule for the newsboy problem with only the mean and the variance of the demand are known is analyzed, and the analysis is extended to the fixed ordering cost case, where a fixed cost is charged for placing an order, and to the case of random yields.
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A Multiproduct Dynamic Pricing Problem and Its Applications to Network Yield Management
TL;DR: The solution to the deterministic problem suggests two heuristics for the stochastic problem that are shown to be asymptotically optimal as the expected sales volume tends to infinity.
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Optimal starting times for end-of-season sales and optimal stopping times for promotional fares
Youyi Feng,Guillermo Gallego +1 more
TL;DR: In this paper, the problem of deciding the optimal timing of a single price change from a given initial price to either a given lower or higher second price has been studied and it is shown that it is optimal to decrease resp., to increase the initial price as soon as the time-to-go falls below resp., above a time threshold that depends on the number of yet unsold items.
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Integrating Replenishment Decisions with Advance Demand Information
Guillermo Gallego,Özalp Özer +1 more
TL;DR: It is shown that state-dependent and base-stock policies are optimal for stochastic inventory systems with and without fixed costs, and conditions under which advance demand information has no operational value are determined.