A logarithmic goal programming approach to develop the utility function for a railway travel

Goutam Dutta, Priyanko Ghosh and Arushi Wanchoo Kaul

International Journal of Revenue Management, 2015, vol. 8, issue 2, 153-164

Abstract: Railway passengers are in a dilemma to choose the best train among several alternatives available in a particular route. A relative comparison of competing railways helps the passenger to make an informed choice before the actual travel. In this paper we develop a utility model for a railway travel based on the important attributes. We carry out an analysis on the competing railways for a particular route and calculate the utility score of each train route. The passengers benefit as they are aware of the relative ranking of a particular train on a particular route before they make their choice and the railways benefit as they are able to estimate the market share of each service using a multinomial logit choice model.

Keywords: forecasting; revenue management; utility function; choice models; logarithm goal programming; modelling; rail travel; railway passengers; train routes; route choice; route options; India; railways; passenger choice; route selection. (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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