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Case Study: USE OF GAME THEORY TO MAXIMIZE PROFITS
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.