|
Combined overbooking and seat inventory control fortwo-class revenue management model |
|---|---|
| รหัสดีโอไอ | |
| Creator | 1. Murati Somboon 2. Kannapha Amaruchkul |
| Title | Combined overbooking and seat inventory control fortwo-class revenue management model |
| Publisher | Research and Development Office, Prince of Songkla University |
| Publication Year | 2559 |
| Journal Title | Songklanakarin Journal of Science and Technology (SJST) |
| Journal Vol. | 38 |
| Journal No. | 6 |
| Page no. | 657-665 |
| Keyword | overbooking,static model,stochastic model,revenue management |
| ISSN | 0125-3395 |
| Abstract | We propose a two-class revenue management (RM) model, which combines two of the most important RM strategies,namely overbooking and seat inventory control for a passenger airline. We derive a closed-form expression for an optimaloverbooking limit that maximizes the expected profit, and analytically perform sensitivity analysis by changing model parameterssuch as a revenue, a penalty cost associated with unsatisfied demand, a show-up probability, a refund, a deniedboarding cost, and a plane capacity. |
