Simulation optimization for revenue management of airlines with cancellations and overbooking

DOI10.1007/s00291-005-0018-zzbMath1144.90411OpenAlexW2109188869MaRDI QIDQ858602

Aykut F. Kahraman, Emrah Ozkaya, Abhijit Gosavi

Publication date: 11 January 2007

Published in: OR Spectrum (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/s00291-005-0018-z

zbMATH Keywords

Revenue managementSimulation-based optimization

Mathematics Subject Classification ID

Management decision making, including multiple objectives (90B50)

Related Items (10)

A novel approach to determine a tactical and operational decision for dynamic appointment scheduling at nuclear medical center ⋮ Network capacity control using self-adjusting bid-prices ⋮ A review of revenue management: recent generalizations and advances in industry applications ⋮ A reinforcement learning approach to distribution-free capacity allocation for sea cargo revenue management ⋮ A survey on risk-averse and robust revenue management ⋮ An option-based revenue management procedure for strategic airline alliances ⋮ Integrated revenue management approaches for capacity control with planned upgrades ⋮ Value chain management for commodities: a case study from the chemical industry ⋮ An LP based approximate dynamic programming model to address airline overbooking under cancellation, refund and no-show ⋮ Adaptive sampling line search for local stochastic optimization with integer variables

Uses Software

• Pueblo

Cites Work

• Optimization by Simulated Annealing
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• Overbooking with Substitutable Inventory Classes
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• An Airline Seat Management Model for a Single Leg Route When Lower Fare Classes Book First
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• Introduction to Stochastic Search and Optimization
• Optimal and Approximate Control Policies for Airline Booking with Sequential Nonmonotonic Fare Classes
• Airline Seat Allocation with Multiple Nested Fare Classes
• Simulation-Based Booking Limits for Airline Revenue Management
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