The Role of Robust Optimization in Single-Leg Airline Revenue Management

• 成果类型: Article
• 署名作者: Birbil, S. Ilker; Frenk, J. B. G.; Gromicho, Joaquim A. S.; Zhang, Shuzhong
• 署名单位: Sabanci University; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Vrije Universiteit Amsterdam; Chinese University of Hong Kong
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.1070.0843
• 发表日期: 2009
• 页码: 148-163
• 关键词: airline revenue management; single-leg problems; static models; Dynamic models; robust optimization

摘要

In this paper, we introduce robust versions of the classical static and dynamic single-leg seat allocation models. 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 counterparts is considerably reduced with a negligible decrease in average revenue.