Template-Type: ReDIF-Article 1.0 Author-Name: Michael Scholz Author-X-Name-First: Michael Author-X-Name-Last: Scholz Author-Name: Benedikt Elser Author-X-Name-First: Benedikt Author-X-Name-Last: Elser Title: Price optimisation of perishable goods using a genetic algorithm Abstract: Multi-product profit optimisation problems have been studied under nested logit models of consumer behaviour. Although attractive through to the relaxation of strong assumptions of multinomial logit models, nested logit models as well as multinomial logit models require costly discrete choice experiments in order to collect data for estimating model parameters. We propose a novel formulation of multi-product profit optimisation that is especially useful for perishable goods that are of the same type and different only in their quality level. Our model relies on willingness to pay data that can be elicited directly, derived from market data or measured indirectly in auctions or through transactions. We furthermore present a genetic algorithm for solving the formulated multi-product profit optimisation and show that our proposed genetic algorithm finds nearby optimal solutions within a very short time span. Journal: Int. J. of Revenue Management Pages: 1-18 Issue: 1/2 Volume: 13 Year: 2022 Keywords: price optimisation; genetic algorithm; willingness-to-pay; revenue management. File-URL: http://www.inderscience.com/link.php?id=126727 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijrevm:v:13:y:2022:i:1/2:p:1-18 Template-Type: ReDIF-Article 1.0 Author-Name: Leandro Pereira Author-X-Name-First: Leandro Author-X-Name-Last: Pereira Author-Name: Eduarda May Author-X-Name-First: Eduarda Author-X-Name-Last: May Author-Name: Rui Gonçalves Author-X-Name-First: Rui Author-X-Name-Last: Gonçalves Author-Name: Álvaro Dias Author-X-Name-First: Álvaro Author-X-Name-Last: Dias Author-Name: Renato Lopes da Costa Author-X-Name-First: Renato Lopes da Author-X-Name-Last: Costa Title: Benefits realisation management: from problem solving to value delivery Abstract: There is a growing pressure to assertively invest on the project initiatives that will deliver the most valuable results for the business strategy. Although this is a clear concern for the organisations, many of them are still not able to identify the benefits that a project could deliver. This research aims to address the gap between the benefits realisation management academic research and the real project management routine in the organisations, focusing on the project benefits identification. The main objective of this study was to explore the steps proposed on the Pereira problem solving framework to identify the gaps that prevent the project managers from clearly identifying the expected benefits from a project initiative. After interviewing 32 professionals, the results suggest that the main barrier to the benefits identification is the superficial understanding of the project scope and the low level of maturity that organisations can have on how to manage projects benefits. Journal: Int. J. of Revenue Management Pages: 19-49 Issue: 1/2 Volume: 13 Year: 2022 Keywords: project benefits; management; problem-solving; business case; investment. File-URL: http://www.inderscience.com/link.php?id=126729 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijrevm:v:13:y:2022:i:1/2:p:19-49 Template-Type: ReDIF-Article 1.0 Author-Name: Imen Khanchel Author-X-Name-First: Imen Author-X-Name-Last: Khanchel Author-Name: Dorsaf Bentaleb Author-X-Name-First: Dorsaf Author-X-Name-Last: Bentaleb Title: Is corporate voluntary disclosure a burden to shareholders? Abstract: This study examines the effect of board characteristics on the extent of voluntary disclosure in Tunisian listed firms first separately and then moderated by some corporate ownership variables. The studied board characteristics are the proportion of independent directors on the board and the presence of a dual management structure. The moderating corporate ownership variables are family, institutional and state ownership. Our measure of disclosure assesses the amount of voluntary disclosure provided in 2019 annual reports of a sample of 48 Tunisian listed firms. We use an additive and unweighted approach to construct a disclosure index. The results indicate significant negative relationships between voluntary disclosure and board characteristics. Our results indicate that the proportion of independent directors and a dual management structure enhances the extent of voluntary disclosure. Furthermore, while institutional ownership positively moderated this relationship, this latter is negatively related to family and state ownership. These findings shed light on corporate governance features and in particular board attributes that enhance incentives for voluntary disclosure and those affecting these incentives. Journal: Int. J. of Revenue Management Pages: 50-78 Issue: 1/2 Volume: 13 Year: 2022 Keywords: corporate governance; voluntary disclosure; emerging market; Tunisia. File-URL: http://www.inderscience.com/link.php?id=126737 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijrevm:v:13:y:2022:i:1/2:p:50-78 Template-Type: ReDIF-Article 1.0 Author-Name: Antonio Focacci Author-X-Name-First: Antonio Author-X-Name-Last: Focacci Title: The investment rate of return at the end of the period: a future worth approach to capital budgeting Abstract: The net present value (NPV) within the discounted cash-flow (DCF) framework is the preferred theoretical method at the academic level for dealing with capital budgeting problems. However, despite an elegant form and an undeniable technical allure in its capital asset pricing model (CAPM) version, a large number of situations raise serious concerns about the assumptions that must be made in order to successfully address practical cases. With the aim of obtaining a solution to this issue, the paper develops and proposes a new methodology based on a future worth (FW) approach labelled as investment rate of return at the end of the period (IRREP). With a couple of real-world cases, we present its effectiveness to contexts where traditional approaches are lacking due to serious theoretical inconsistencies. Journal: Int. J. of Revenue Management Pages: 79-98 Issue: 1/2 Volume: 13 Year: 2022 Keywords: revenue management; capital budgeting; investment analysis; decision-making; IRREP. File-URL: http://www.inderscience.com/link.php?id=126738 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijrevm:v:13:y:2022:i:1/2:p:79-98 Template-Type: ReDIF-Article 1.0 Author-Name: Daniel Hopman Author-X-Name-First: Daniel Author-X-Name-Last: Hopman Author-Name: Ger Koole Author-X-Name-First: Ger Author-X-Name-Last: Koole Author-Name: Rob van der Mei Author-X-Name-First: Rob van der Author-X-Name-Last: Mei Title: Single-dimensional leg-level dynamic programming with booking-time dependent cancellation probabilities for revenue management Abstract: In this paper, an optimisation method is introduced that accounts for cancellations. We do so by estimating the opportunity cost of a booking between the time of booking and the expected time of cancellation. The formulation involves an estimate of the value of the state of the system at the time of cancellation (which is in the future), found through novel heuristics we introduce. The fare that is used to determine whether a product is available for sale, is adjusted by the risk the airline faces. We introduce an example which shows that there may be cases where it is optimal to reject a higher-priced product if the risk of cancellation is high, while accepting a lower-priced product. Simulations show increases in revenues against a traditional formulations that does not explicitly models cancellations. We show our method is robust against choice of heuristic, misjudgement of cancellation probability and forecasting errors. Journal: Int. J. of Revenue Management Pages: 99-123 Issue: 1/2 Volume: 13 Year: 2022 Keywords: dynamic programming; single-dimensional state space; Poisson process; simulation; revenue management. File-URL: http://www.inderscience.com/link.php?id=126743 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijrevm:v:13:y:2022:i:1/2:p:99-123