Template-Type: ReDIF-Paper 1.0
Author-Name: Birbil, S.I.
Author-Name-Last: Birbil
Author-Name-First: Ilker
Author-Name: Frenk, J.B.G.
Author-Name-Last: Frenk
Author-Name-First: Hans
Author-Name: Gromicho, J.A.S.
Author-Name-Last: Gromicho
Author-Name-First: Joaquim
Author-Name: Zhang, S.
Author-Name-Last: Zhang
Author-Name-First: Shuzhong
Title: An Integrated Approach to Single-Leg Airline Revenue Management: The Role of Robust Optimization
Abstract: In this paper we introduce robust versions of the classical static and dynamic single leg seat allocation models as analyzed by Wollmer, and Lautenbacher and Stidham, respectively. These robust models take into account the inaccurate estimates of the underlying probability distributions. As observed by simulation experiments it turns out that for these robust versions the variability compared to their classical counter parts is considerably reduced with a negligible decrease of average revenue.
Creation-Date: 2006-06-10
File-URL: https://repub.eur.nl/pub/7808/ERS-2006-023-LIS.pdf
File-Format: application/pdf
Series: RePEc:ems:eureri
Number: ERS-2006-023-LIS
Classification-JEL: C61, L93, M, M11, R4
Keywords: Airline Revenue Management, Dynamic Models, Robust Optimization, Single-Leg Problems, Static Models
Handle: RePEc:ems:eureri:7808