Concession Revenue Modelling and Forecasting
Concessions are an important source of revenue for all airports. An airport simulation model should therefore be able to give a good forecast of revenue from different types of concessions.
S@R
S@R develops models for support of decision making under uncertainty.
Taking advantage of recognized financial and economic theory, we customize simulation models to fit specific industries, situations and needs.
Perception of Risk
Google Trends and Google Insights for Search gives us the opportunity to gain information on a subject’s popularity. A paper by Google Inc. and Centers for Disease Control and Prevention (USA) have shown how search queries can be used to estimate the current level of influenza activity in the United States. (Ginsberg, Mohebbi, Patel, Brammer, […]
Public Works Projects
In public works and large scale construction or engineering projects – where uncertainty mostly concerns cost, a simplified scenario analysis is often used …
Selecting Strategy
When there is no uncertainty the maximum return criterion can be used to rank strategies. With uncertainty we have to look for the strategy that maximizes the firms expected utility.
Two letters
Dear S@R, I am not interested in the use of stochastic models, and particularly Monte Carlo simulations. I believe that these approaches too often lead to underestimating risks of extreme events …