An Integrated Stochastic Programming Model of Seat Allocation and Discriminatory Pricing for High-Speed Rail

From the point of view of revenue management, a bi-level optimization model is proposed to determine the seat allocation and discriminatory pricing for high speed rail. The relation between ticket prices and quantities can be represented using demand functions. Stochastic passenger demands and demand functions of high speed rail are integrated into this model. The objective is to maximize the expected total revenue. Discriminatory pricing principles and seat capacity constraints are considered simultaneously. For different market segments, discriminative ticket prices are determined in accordance with the given seat amount. The upper-level model is formulated as a nonlinear mathematical program. The lower-level model is formulated as a two-stage stochastic programming model.

Language

  • English

Media Info

  • Media Type: Web
  • Features: References;
  • Pagination: pp 1-9
  • Monograph Title: Bridging the East and West: Theories and Practices of Transportation in the Asia Pacific

Subject/Index Terms

Filing Info

  • Accession Number: 01602194
  • Record Type: Publication
  • ISBN: 9780784479810
  • Files: TRIS, ASCE
  • Created Date: May 19 2016 3:01PM