Revenue Management in Airlines and External Factors Affecting Decisions: The Harmonic Oscillator Model

Ivan Arraut (), Wilson Rosado and Victor Leong
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Ivan Arraut: Faculty of Business and Law, University of Saint Joseph, Estrada Marginal da Ilha Verde, 14-17, Macao, China
Wilson Rosado: Department of Physics, Universidad de Sucre, Cra. 28 No 5-267, Puerta Roja, Sincelejo-Sucre 700001, Colombia
Victor Leong: Faculty of Business and Law, University of Saint Joseph, Estrada Marginal da Ilha Verde, 14-17, Macao, China

Mathematics, 2024, vol. 12, issue 6, 1-14

Abstract: The Revenue Management (RM) problem in airlines for a fixed capacity, single resource and two classes has been solved before by using a standard formalism. In this paper we propose a model for RM by using the semi-classical approach of the Quantum Harmonic Oscillator. We then extend the model to include external factors affecting the people’s decisions, particularly those where collective decisions emerge.

Keywords: revenue management; harmonic oscillator; collective decisions; spontaneous symmetry breaking (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2024
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