Railway Revenue Management: Overview and Models (Operations Research)
Alexander Armstrong and
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Alexander Armstrong: Department of Management Science, Lancaster University Management School, http://www.meiss.com/en/team/alexander-armstrong/
No MRG/0019, Working Papers from Department of Management Science, Lancaster University
The railway industry offers similar revenue management opportunities to those found in the airline industry. The railway industry caters for the delivery and management of cargo as well as the transport of passengers. Unlike the airline industry, the railway industry has seen relatively little attention to revenue management problems. We provide an overview of the published literature for both passenger and freight rail revenue management. We include a summary of the some the available models and include some possible extensions. From the existing literature and talks with industry, it is clear that that there is room to exploit revenue management techniques in the railway industry, an industry that has revenues of $60 billion in the US and promises huge growth in Europe in the forthcoming years.
Keywords: operations research; marketing; network economics; business economics; railway; revenue management; pricing; passenger; freight; models (search for similar items in EconPapers)
JEL-codes: C61 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2010-07, Revised 2010-07
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Persistent link: https://EconPapers.repec.org/RePEc:lms:mansci:mrg-0019
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