This paper presents a market-reactive optimization approach to solve, on-line, the airline Revenue Management problem. The recursive demand forecasting method proposed, which makes use of geometric programming is described and the uncertainties related to the demand arrival process are taken into account within the Inventory Control module via the use of stochastic dynamic programming. A new backward recursive dynamic programming model is developed and implemented for different situations of fare-classes confinement and numerical results and performance assessments are obtained by computer simulations. © 2005 by International Federation for Information Processing.
CITATION STYLE
Bilegan, I. C., González-Rojo, S., Cosenza, C. A. N., & Mora-Camino, F. (2005). Optimal decision making for airline inventory control. In IFIP Advances in Information and Communication Technology (Vol. 172, pp. 201–214). Springer New York LLC. https://doi.org/10.1007/0-387-24049-7_11
Mendeley helps you to discover research relevant for your work.