An Airline Overbooking Model

Marvin Rothstein
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Marvin Rothstein: University of Connecticut, Storrs, Connecticut

Transportation Science, 1971, vol. 5, issue 2, 180-192

Abstract: A model for determining airline overbooking policies is presented. The problem is formulated as a nonhomogeneous Markovian sequential decision process. Solutions that are optimal in several different senses are obtained with the aid of dynamic programming. An example based upon airline data illustrates the character of the policies and the sensitivity of the model with respect to certain parameters.

Date: 1971
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ortrsc:v:5:y:1971:i:2:p:180-192

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