Read the following short article, I’m Not Paying That! (Links to an external site.), by Christine Currie, found in the +Plus Magazine…Living Mathematics in December 1, 2005. This older article provides a simplified explanation of a common application of mathematical programming and a good introduction to the topic.
Please respond to one of the leading questions below with a paragraph or two.
- What is your experience with pricing on airlines? Have you benefited by purchasing tickets at a lower price by ordering at “the right time”? Paid a high premium on your flights? Affected by an over-booked flight?
- Do you find this system to be fair and ethical? Why or why not? There has been much discussion in the past few months regarding airline “overbooking” practices. What are your thoughts on this practice as a business practice.
- What other industries use revenue management to price products or services? What was your experience with this industry?
Link to article: https://plus.maths.org/content/im-not-paying