Ticket Pricing Model for Group Passenger Based on Dynamic Programming

Gao Ronghuan ()
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Gao Ronghuan: Civil Aviation University of China

A chapter in LISS 2012, 2013, pp 513-518 from Springer

Abstract: Abstract Ticket pricing is a key issue in airline’s revenue management. The whole paper can be divided into two main parts. First, according to the characteristic of air seat, a discount rate for the group is calculated, and a discrete-time dynamic programming model for group passenger optimal pricing is established. Second, establishing pricing model and the optimal price policy of group passenger is given by proposed model. Finally, the practicability of the model is illustrated by using a numerical example.

Keywords: Revenue management; Airlines transportation; Group passenger; Ticket pricing (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-32054-5_74

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DOI: 10.1007/978-3-642-32054-5_74

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