We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Combined overbooking and seat inventory control for two-class revenue management model.
- Authors
Murati Somboon; Kannapha Amaruchkul
- 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 optimal overbooking limit that maximizes the expected profit, and analytically perform sensitivity analysis by changing model parameters such as a revenue, a penalty cost associated with unsatisfied demand, a show-up probability, a refund, a denied boarding cost, and a plane capacity.
- Subjects
FLIGHT overbooking (Airlines); AIRLINE seating; REVENUE management; SENSITIVITY analysis; AIRLINE industry &; economics
- Publication
Songklanakarin Journal of Science & Technology, 2016, Vol 38, Issue 6, p657
- ISSN
0125-3395
- Publication type
Article