A co-evolutionary matheuristic for the car rental capacity-pricing stochastic problem

Beatriz B. Oliveira, Maria Antónia Carravilla, José F. Oliveira and Alysson M. Costa

European Journal of Operational Research, 2019, vol. 276, issue 2, 637-655

Abstract: When planning a selling season, a car rental company must decide on the number and type of vehicles in the fleet to meet demand. The demand for the rental products is uncertain and highly price-sensitive, and thus capacity and pricing decisions are interconnected. Moreover, since the products are rentals, capacity “returns”. This creates a link between capacity with fleet deployment and other tools that allow the company to meet demand, such as upgrades, transferring vehicles between locations or temporarily leasing additional vehicles.

Keywords: Revenue management; Pricing; Car rental fleet management; Genetic algorithms; Stochastic programming (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:276:y:2019:i:2:p:637-655

DOI: 10.1016/j.ejor.2019.01.015

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