Multi-Leg Seat Inventory Control Based on EMSU and Virtual Bucket

Autor: Wei Fan, Jianwei Wang, W.H. Ip
Jazyk: angličtina
Rok vydání: 2014
Předmět:
Zdroj: International Journal of Engineering Business Management, Vol 6 (2014)
Druh dokumentu: article
ISSN: 1847-9790
DOI: 10.5772/56957
Popis: Expected marginal seat revenue (EMSR) is a well-known method for airline seat inventory control airlines. However, this method employs a static model to study the dynamic reservation process, and does not take into account the risk tolerance of policy makers. Expected marginal seat utility (EMSU) replaces revenue by utility, which addresses the real situation of seat inventory control. However, there is still a lack of multi-leg seat control algorithms based on EMSU. Therefore, using EMSU and bucket algorithms, this paper applies the Markov decision-making process to simulate the flight reservation process and builds a dynamic multi-leg seat inventory control model. Experimental results validate the effectiveness of the proposed method.
Databáze: Directory of Open Access Journals