title   
  

A static model in single leg flight airline revenue management

Frenk, Hans and Pourghannad, Behrooz and Sezer, Semih Onur (2016) A static model in single leg flight airline revenue management. Transportation Science . ISSN 0041-1655 (Print) 1526-5447 (Online) Published Online First http://dx.doi.org/10.1287/trsc.2016.0695

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Official URL: http://dx.doi.org/10.1287/trsc.2016.0695

Abstract

Static models on single leg airline revenue management generally consider booking limits or protection limits as the main decision variables to control reservation requests. In the current paper, we provide an alternative framework in which the decision variables are the closing times of fare classes. In a continuous time model with nonhomogeneous Poisson arrivals, cancellations, and no-shows, we study the problem of finding optimal closing times to maximize the expected net revenue from a given flight. We analyze the value function, point out some easy cases, and bring an easily implementable dynamic programming based solution method. We also illustrate this method on some numerical examples.

Item Type:Article
Additional Information:Revised and resubmitted in August 2015.
Subjects:Q Science > QA Mathematics
ID Code:30911
Deposited By:Semih Onur Sezer
Deposited On:06 Nov 2016 22:08
Last Modified:26 Jul 2017 16:24

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