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EMSR meaning in General ? |
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Answer» What is Expected Marginal Seat Revenue mean? EMSR stands for Expected Marginal Seat Revenue and is a very popular heuristic in Revenue Management. There are two versions: EMSRa and EMSRb, both of which were introduced by Peter Belobaba. Both methods are for n-class, static, single-resource problems. Because the models are static some assumptions apply: classes are indexed in such a way that the fare for the highest class, r 1 {\displaystyle r_{1}} , is higher than the fare for the next highest class, r 2 {\displaystyle r_{2}} , so r 1 {\displaystyle r_{1}} > r 2 {\displaystyle r_{2}} > ... > r n {\displaystyle r_{n}} ; demand arrives in a strict low to high order in stages that are indexed with j as well; demand for class j is distributed with cdf F j ( x ) {\displaystyle F_{j}(x)} . For simplicity it is also assumed that demand, capacity and the distributions are continuous, although it is not very difficult to drop this assumption. reference
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