Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/21875
Title: | Multi-leg seat inventory control based on EMSU and virtual bucket | Authors: | Fan, W Wang, J Ip, WH |
Issue Date: | 2014 | Source: | International journal of engineering business management, 2014, v. 6, no. 1, p. 9-13 | 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. | Keywords: | EMSR EMSU Markov decision-making process Virtual bucket |
Publisher: | SAGE Publications | Journal: | International journal of engineering business management | EISSN: | 1847-9790 | DOI: | 10.5772/56957 | Rights: | © 2014 The Author(s). Licensee InTech. This is an open access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/3.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. The following publication Fan, W., Wang, J., & Ip, W. H. (2014). Multi-leg seat inventory control based on EMSU and virtual bucket. International Journal of Engineering Business Management, 6(1), 9-13 is available at https://doi.org/10.5772/56957 |
Appears in Collections: | Journal/Magazine Article |
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