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Breaking Down Willingness-to-Pay in RM

PROS pioneered the science to combat buy-down by introducing Hybrid Forecasting and Optimization. PROS has continued the evolution of this approach by implementing the PROS Willingness-to-pay (WTP) Forecasting and Optimization methodology. This whitepaper will outline the key steps to the methodology. These are to forecast the price sensitivity of the demand and then adjust the value of the passenger to account for the dilution through an optimization procedure.

Previous Article
How Airlines Can Forecast Customer Willingness-to-Pay
How Airlines Can Forecast Customer Willingness-to-Pay

With PROS Willingness-to-Pay Forecasting and Optimization airlines can improve revenue and increase flexibi...

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Hybrid Forecasting for Revenue Management in Action
Hybrid Forecasting for Revenue Management in Action