Airline Yield Management with Overbooking, Cancellations, and No-Shows
نویسندگان
چکیده
منابع مشابه
Airline Yield Management with Overbooking, Cancellations, and No-Shows
We formulate and analyze a Markov decision process (dynamic programming) model for airline seat allocation (yield management) on a single-leg flight with multiple fare classes. Unlike previous models, we allow cancellation, no-shows, and overbooking. Additionally, we make no assumptions on the arrival patterns for the various fare classes. Our model is also applicable to other problems of reven...
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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...
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This paper develops a model-free simulation-based optimization model to solve a seat-allocation problem arising in airlines. The model is designed to accommodate a number of realistic assumptions for real-world airline systems—in particular, allowing cancellations of tickets by passengers and overbooking of planes by carriers. The simulation–optimization model developed here can be used to solv...
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ژورنال
عنوان ژورنال: Transportation Science
سال: 1999
ISSN: 0041-1655,1526-5447
DOI: 10.1287/trsc.33.2.147