Birbil, Ş. İlker and Frenk, J.B.G. and Gromicho, J.A.S. and Zhang, S. (2008) The role of robust optimization in single-leg airline revenue management. (Accepted/In Press)
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Abstract
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 to their classical counterparts is considerably reduced with a negligible decrease in average revenue
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | airline revenue management; single-leg problems; static models; dynamic models; robust optimization |
| Subjects: | Q Science > QA Mathematics T Technology > TA Engineering (General). Civil engineering (General) |
| Divisions: | Faculty of Engineering and Natural Sciences |
| Depositing User: | Ş. İlker Birbil |
| Date Deposited: | 07 Nov 2008 15:59 |
| Last Modified: | 03 Dec 2009 09:21 |
| URI: | https://research.sabanciuniv.edu/id/eprint/10106 |
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The role of robust optimization in single-leg airline revenue management. (deposited 28 Oct 2007 17:06)
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