This $237,156 National Science Foundation project grant supports research at Washington State University to develop modern revenue management strategies for port terminal operations. Funded under the NSF Engineering program (CFDA 47.041), this three-year award will contribute to advancing revenue management solutions for multistage service systems like ports. Key products include analytical models and numerical algorithms to determine optimal static and dynamic pricing policies that maximize long-run average profit for port terminals. The research considers pricing and congestion factors for customers with both observable and unobservable service system information. Tools will also be developed to help service providers decide what information to provide customers and assess benefits of dynamic pricing versus static approaches. A case study of a port terminal will validate methods and provide practitioners models and algorithms for optimal pricing strategies.
Generated 1/6/24, 1:04 PM