On the single-leg airline revenue management problem in continuous time

Arslan, Alp; Frenk, J. B. G.; Sezer, Semih

doi:10.1007/s00186-014-0485-6

Cited by 6 publications

(3 citation statements)

References 14 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Single-source Problems Arslan et al (2015) [1] in his paper addresses the single-source problem, when the time is continuous. He uses a discrete-time operator based on dynamic programming and analyzes the value function and its properties.…”

Section: Quantity Control Papersmentioning

confidence: 99%

An LP based approximate dynamic programming model to address airline overbooking under cancellation, refund and no-show

Soleymanifar

2019

YUGOSLAV J OPERATION

View full text Add to dashboard Cite

In this paper we simultaneously address four constraints relevant to airline revenue management problem: flight cancellation, customer no-shows, overbooking, and refunding. We develop a linear program closely related to the dynamic program formulation of the problem, which we later use to approximate the optimal decision rule for rejecting or accepting customers. First, we give a novel proof that the optimal objective function of this linear program is always an upper bound for the dynamic program. Secondly, we construct a decision rule based on this linear program and prove that it is asymptotically optimal under certain circumstances. Finally, using Monte Carlo simulation, we demonstrate that, numerically, the result of the linear programming policy presented in this paper has a short distance to the upper bound of the optimal answer, which makes it a fairly good approximate answer to the intractable dynamic program.

show abstract

Section: Quantity Control Papersmentioning

confidence: 99%

An LP based approximate dynamic programming model to address airline overbooking under cancellation, refund and no-show

Soleymanifar

2019

YUGOSLAV J OPERATION

View full text Add to dashboard Cite

show abstract

“…We call f j (•, •) the reward function for resource j. In practice, the continuous-time dynamic programming (4) can often be solved by discretizing the horizon (for example, see Arslan et al (2015)).…”

Section: Separation Algorithmmentioning

confidence: 99%

Online Advance Admission Scheduling for Services with Customer Preferences

Wang,

Truong,

Bank

2018

Preprint

View full text Add to dashboard Cite

We study web and mobile applications that are used to schedule advance service, from medical appointments to restaurant reservations. We model them as online weighted bipartite matching problems with non-stationary arrivals. We propose new algorithms with performance guarantees for this class of problems.Specifically, we show that the expected performance of our algorithms is bounded below by 1times that of an optimal offline algorithm, which knows all future information upfront, where k is the minimum capacity of a resource. This is the tightest known lower bound. This performance analysis holds for any Poisson arrival process. Our algorithms can also be applied to a number of related problems, including display ad allocation problems and revenue management problems for opaque products. We test the empirical performance of our algorithms against several well-known heuristics by using appointment scheduling data from a major academic hospital system in New York City. The results show that the algorithms exhibit the best performance among all the tested policies. In particular, our algorithms are 21% more effective than the actual scheduling strategy used in the hospital system according to our performance metric.

show abstract

“…Debido a la complejidad de la competencia en la industria, muchas aproximaciones añaden a la modelación supuestos de competencia vertical y horizontal [18] y alianzas empresariales mediante aplicaciones de teoría de juegos [16] [19]. Adicionalmente se incluyeron otro grupo de supuestos sobre la naturaleza estocástica [15] [20] [21] y determinística [19] de los procesos. Por otro lado, algoritmos de optimización basados en el aprendizaje profundo reforzado constituyen la actual frontera de conocimientos usada por American Airlines [14]; esta aproximación es estadística y emplea un modelo que se entrena con datos simulados para realizar la optimización de forma automática con datos reales.…”

unclassified

Efectos de aplicar la gestión de ingresos en la industria aeronáutica

Álvarez,

Quiliche,

Chong

2019

Memoria investig. ing. (Facultad Ing., Univ. Montev.)

View full text Add to dashboard Cite

Recibido: 08/2018 Aceptado 09/2019 Resumen.-Las aerolíneas alrededor del mundo se han visto afectadas por los desafíos de rentabilidad, participación de mercado y el comportamiento de la demanda, lo cual ha contribuido al desarrollo de la gestión de ingresos o Revenue Management. El modelo de gestión busca maximizar el nivel de ingreso en las empresas con la gestión de la demanda. La aplicación de este modelo en empresas de diversos rubros ha generado un incremento en sus ingresos anuales en orden del 4 a 5% favoreciendo oportunidades de negocio a través del desarrollo de nuevos mercados basados en la rentabilidad empresarial. La industria aeronáutica fue una de las pioneras en aplicar este modelo de gestión a nivel mundial. En esta oportunidad, el caso aplica el modelo en un mercado dinámico y con nuevas restricciones: mercado regional, vuelos cortos, tarifas desreguladas e impacto de las aerolíneas de bajo costo.

show abstract

On the single-leg airline revenue management problem in continuous time

Cited by 6 publications

References 14 publications

An LP based approximate dynamic programming model to address airline overbooking under cancellation, refund and no-show

An LP based approximate dynamic programming model to address airline overbooking under cancellation, refund and no-show

Online Advance Admission Scheduling for Services with Customer Preferences

Efectos de aplicar la gestión de ingresos en la industria aeronáutica

Contact Info

Product

Resources

About