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Title: Multi-leg seat inventory control based on EMSU and virtual bucket
Authors: Fan, W
Wang, J
Ip, WH 
Keywords: EMSR
Markov decision-making process
Virtual bucket
Issue Date: 2014
Publisher: SAGE Publications
Source: International journal of engineering business management, 2014, v. 6, no. 1, p. 9-13 How to cite?
Journal: International journal of engineering business management 
Abstract: 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.
EISSN: 1847-9790
DOI: 10.5772/56957
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