A stochastic dynamic pricing model for the multiclass problems in the airline industry

DOI10.1016/J.EJOR.2014.09.038zbMath1341.91081OpenAlexW2052307584MaRDI QIDQ726248

Raha Akhavan-Tabatabaei, Daniel F. Otero

Publication date: 8 July 2016

Published in: European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.ejor.2014.09.038

zbMATH Keywords

stochastic dynamic programmingdynamic pricingrevenue managementphase-type distributionsOR in airlines

Mathematics Subject Classification ID

Stochastic programming (90C15) Microeconomic theory (price theory and economic markets) (91B24) Economic models of real-world systems (e.g., electricity markets, etc.) (91B74) Consumer behavior, demand theory (91B42) Applications of renewal theory (reliability, demand theory, etc.) (60K10)

Related Items (7)

Duopoly game of callable products in airline revenue management ⋮ Mechanisms of cooperation between airlines and online travel agencies for flight crowdfunding ⋮ Optimal timing of airline promotions under dilution ⋮ Dynamic and targeted bundle pricing of two independently valued products ⋮ Dynamic channel control and pricing of a single perishable product on multiple distribution channels ⋮ Partial refunds as a strategic price commitment device in advance selling in a service industry ⋮ Allocating resources via price management systems: a dynamic programming-based approach

Uses Software

• EMpht

Cites Work

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• The theory and practice of revenue management
• Estimating demand by using sales information: inaccuracies encountered
• Matching moments to phase distributions: nonlinear programming approaches
• Introduction to Matrix Analytic Methods in Stochastic Modeling
• Computer Performance Evaluation. Modelling Techniques and Tools
• Matching Three Moments with Minimal Acyclic Phase Type Distributions

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