Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/91869
PIRA download icon_1.1View/Download Full Text
Title: Optimal pricing and seat allocation schemes in passenger railway systems
Authors: Xu, G
Zhong, L
Hu, X
Liu, W 
Issue Date: Jan-2022
Source: Transportation Research Part E: Logistics and Transportation Review, Jan. 2022, v. 157, 102580
Abstract: This paper examines optimal pricing and seat allocation schemes in passenger railway systems, where ticket pricing and seat allocation (or capacity allocation) are both Origin-Destination specific. We consider that the demand is sensitive to the ticket price, and a non-concave and non-linear mixed integer optimization model is then formulated for the ticket pricing and seat allocation problem to maximize the railway ticket revenue. To find the optimal solution of the ticket revenue maximization problem effectively, the proposed non-concave and non-linear model is reformulated such that the objective function and constraints are linear with respect to the decision variables or the logarithms of the decision variables. The linearized model is then further relaxed as a mixed-integer programing problem (MILP). Based on the above linearization and relaxation techniques, a globally optimal solution can be obtained by iteratively solving the relaxed MILP and adopting the range reduction scheme. Two numerical examples are presented for illustration.
Keywords: Passenger railway system
Pricing
Seat allocation
Global optimization
Publisher: Elsevier
Journal: Transportation research. Part E, Logistics and transportation review 
ISSN: 1366-5545
EISSN: 1878-5794
DOI: 10.1016/j.tre.2021.102580
Rights: © 2021 Elsevier Ltd. All rights reserved.
© 2021. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/
The following publication Xu, G., Zhong, L., Hu, X., & Liu, W. (2022). Optimal pricing and seat allocation schemes in passenger railway systems. Transportation Research Part E: Logistics and Transportation Review, 157, 102580 is available at https://dx.doi.org/10.1016/j.tre.2021.102580.
Appears in Collections:Journal/Magazine Article

Files in This Item:
File Description SizeFormat 
Xu_Optimal_Pricing_Seat.pdfPre-Published version1.66 MBAdobe PDFView/Open
Open Access Information
Status open access
File Version Final Accepted Manuscript
Access
View full-text via PolyU eLinks SFX Query
Show full item record

Page views

178
Last Week
1
Last month
Citations as of Apr 14, 2025

Downloads

6
Citations as of Apr 14, 2025

SCOPUSTM   
Citations

25
Citations as of Jun 21, 2024

WEB OF SCIENCETM
Citations

28
Citations as of Jan 30, 2025

Google ScholarTM

Check

Altmetric


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.