The Role of Robust Optimization in Single-Leg Airline Revenue Management
نویسندگان
چکیده
Ş. İlker Birbil Faculty of Engineering and Natural Sciences, Sabancı University, 34956 Istanbul, Turkey, [email protected], http://people.sabanciuniv.edu/sibirbil J.B.G. Frenk Erasmus University Rotterdam, Postbus 1738, 3000 DR Rotterdam, The Netherlands, [email protected], http://people.few.eur.nl/frenk/ Joaquim A.S. Gromicho Vrije Universiteit, Amsterdam & ORTEC, Gouda, The Netherlands, [email protected], http://www.ortec.nl Shuzhong Zhang Department of Systems Engineering and Engineering Management, The Chinese University of Hong Kong, Shatin, HK, [email protected], http://www.se.cuhk.edu.hk/ zhang
منابع مشابه
AIRLINE STOCHASTIC CAPACITY ALLOCATION BY APPLYING REVENUE MANAGEMENT
To formulate a single-leg seat inventory control problem in an airline ticket sales system, the concept and techniques of revenue management are applied in this research. In this model, it is assumed the cabin capacity is stochastic and hence its exact size cannot be forecasted in advance, at the time of planning. There are two groups of early-reserving and late-purchasing customers demanding t...
متن کاملAn Integrated Approach to Single-Leg Airline Revenue Management: The Role of Robust Optimization
In this paper we introduce robust versions of the classical static and dynamic single leg seat allocation models as analyzed by Wollmer, and Lautenbacher and Stidham, respectively. These robust models take into account the inaccurate estimates of the underlying probability distributions. As observed by simulation experiments it turns out that for these robust versions the variability compared t...
متن کاملSimulation optimization for revenue management of airlines with cancellations and overbooking
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...
متن کاملDevelopment of a Model for Locating Hubs in a Competitive Environment under Uncertainty: A Robust Optimization Approach
This article explores the development of previous models to determine hubs in a competitive environment. In this paper, by comparing parameters of the ticket price, travel time and the service quality of hub airports, airline hubs are divided into six categories. The degree of importance of travel time and travel cost are determined by a multivariate Lagrange interpolation method, which can pla...
متن کاملA New Dynamic Programming Decomposition Method for the Network Revenue Management Problem with Customer Choice Behavior
In this paper, we propose a new dynamic programming decomposition method for the network revenue management problem with customer choice behavior. The fundamental idea behind our dynamic programming decomposition method is to allocate the revenue associated with an itinerary among the different flight legs and to solve a single-leg revenue management problem for each flight leg in the airline n...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید
ثبت ناماگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید
ورودعنوان ژورنال:
- Management Science
دوره 55 شماره
صفحات -
تاریخ انتشار 2009