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Case Study: USE OF GAME THEORY TO MAXIMIZE PROFITSPresh Talwalkar (2015) Southwest Airlines boarding and game theoryUse this article and at least three (3) others to answer the following questions inC
Case Study: USE OF GAME THEORY TO MAXIMIZE PROFITSPresh Talwalkar (2015) Southwest Airlines boarding and game theoryUse this article and at least three (3) others to answer the following questions in
Case Study: USE OF GAME THEORY TO MAXIMIZE PROFITS
Presh Talwalkar (2015) Southwest Airlines boarding and game theory
Use this article and at least three (3) others to answer the following questions in 5-7 pages:
- Describe the change in Southwest Airlines boarding process.
- What was Southwest’s main goal in introducing the early-bird check-in?
- Explain how Southwest Airlines used the game theory approach to increase its profits.
- What is the outcome of the game involving early-bird check-in?
- Identify what is the passengers’ dominant strategy.
- Determine why travelers face the Prisoner’s Dilemma with the early-bird check-in process.
- Analyze the advantages and disadvantages of the early-bird check-in process for Southwest Airlines.
- Suggest ways in which other companies, or the company you work for, can utilize similar game approaches to maximize profits. Note: One of your references should help provide a rationale as to why this is a good approach for this company and needs to have been published within the last 6 months.
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