<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by soitgoes:
There are some interesting statistics in here. One thing that I thought was very interesting was that United values awards at, on average, about $83 (after taking into account deferred revenue for mileage sales).</font>
You have it backwards. The $83 per trip
includes deferred revenue. How much of the $83 is marginal expense for award travel and how much is deferred revenue is a good question.