A dynamic airline seat inventory control model and its optimal policy
成果类型：
Article
署名作者：
Feng, YY; Xiao, BC
署名单位：
Chinese University of Hong Kong; Long Island University; Long Island University Post
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.49.6.938.10026
发表日期：
2001
页码：
938-949
关键词：
摘要：
We consider an airline seat inventory control problem with multiple origins, one hub, and one destination. Passengers from the origins fly to the destination via the hub. Seat capacity of the hub-destination flight is fixed. Demands at origins are assumed to obey the Poisson process. To maximize the expected revenue, management faces decisions on allocating seats among competing origin-destination routes. This study presents a stochastic control model and develops optimal control rules. The basic model is subsequently distended to consider multiple fares on each route, time-dependent demands. and booking control on an extended network. A numerical example shows that optimal seat control is simple and efficient.