A stochastic approximation method for the single-leg revenue management problem with discrete demand distributions
نویسندگان
چکیده
منابع مشابه
A stochastic approximation method for the single-leg revenue management problem with discrete demand distributions
We consider the problem of optimally allocating the seats on a single flight leg to the demands from multiple fare classes that arrive sequentially. It is well-known that the optimal policy for this problem is characterized by a set of protection levels. In this paper, we develop a new stochastic approximation method to compute the optimal protection levels under the assumption that the demand ...
متن کاملA Stochastic Approximation Method for the Revenue Management Problem on a Single Flight Leg with Discrete Demand Distributions
We consider the problem of optimally allocating the seats on a single flight leg to the demands from multiple fare classes that arrive sequentially. It is well-known that the optimal policy for this classical problem is characterized by a set of protection levels. In this paper, we propose a stochastic approximation method to compute the optimal protection levels under the assumption that the d...
متن کاملA Discrete Stochastic Approach to Hotel Revenue Management
A linear programming model has been presented for finding an appropriate planning in order to maximize hotel revenue. In this model, a special planning horizon has been considered that includes several busy days of a year. There are several reservation periods that may start a few months earlier. Each period of reservation may have different prices and so result different incomes. Hotel custo...
متن کاملSingle-Leg Airline Revenue Management with Overbooking
Airline revenue management is about identifying the maximum revenue seat allocation policies. Since a major loss in revenue results from cancellations and no-show passengers, over the years overbooking has received a significant attention in the literature. In this study, we propose new models for static and dynamic single-leg overbooking problems. In the static case, we introduce computational...
متن کاملA continuous approximation fitting to the discrete distributions using ODE
The probability density functions fitting to the discrete probability functions has always been needed, and very important. This paper is fitting the continuous curves which are probability density functions to the binomial probability functions, negative binomial geometrics, poisson and hypergeometric. The main key in these fittings is the use of the derivative concept and common differential ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Mathematical Methods of Operations Research
سال: 2008
ISSN: 1432-2994,1432-5217
DOI: 10.1007/s00186-008-0278-x