Research on Multi-Segment and Multi-Class Seat Inventory Control with Overbooking

Di Wang; Chang You Liu

doi:10.4028/www.scientific.net/AMM.273.34

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HomeApplied Mechanics and MaterialsApplied Mechanics and Materials Vol. 273Research on Multi-Segment and Multi-Class Seat...

Research on Multi-Segment and Multi-Class Seat Inventory Control with Overbooking

Abstract:

In order to achieve a real-time control method and technical support for airlines, the integrated modeling issue of airlines about seat inventory control and overbooking has been researched in this paper. And the integrated control static model has been established by the stochastic programming method, based on ticket sales process to be simulated as a queue process and profit maximization to be objective function. So the problem is decomposed into a plurality of single-segment and single-class seat inventory control problem. Furthermore, the optimal decision-making equation of limiting reservation for each class has been deduced from the model. Finally, the validity of model and calculation method are shown by the full analysis of practical application of the model.

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Periodical:

Applied Mechanics and Materials (Volume 273)

Pages:

34-38

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.273.34

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Online since:

January 2013

Authors:

Di Wang, Chang You Liu

Keywords:

Overbooking, Queuing Theory, Seat Inventory Control, Stochastic Programming

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