Dynamic pricing for passenger groups of high-speed rail transportation

The widespread high-speed rail has become an important transportation mode for tourists in China, who travel primarily in groups. With more attractive price, railway operators may be able to expand ridership, improve customer satisfaction, and ultimately increase revenue. The traditional pricing method for passenger groups, however, is relatively simple, inflexible, which may lead to profit loss during off-seasons. In order to assist railway corporations in revenue improvement, a dynamic pricing model is provided to determine the optimal price for passenger groups. Numerical experiments show that the proposed method is able to suggest the optimal price for total revenue maximization, subject to the capacity constraint.

• Record URL:
  https://doi.org/10.1016/j.jrtpm.2017.01.001
• Record URL:
  http://www.sciencedirect.com/science/article/pii/S2210970617300021
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/22109706
• Supplemental Notes:
  • Abstract reprinted with permission of Elsevier.
• Authors:
  • Xiaoqiang, Zhang
  • Lang, Ma
  • Jin, Zhang
• Publication Date: 2017-1

Language

• English

Media Info

• Media Type: Digital/other
• Features: Appendices; Figures; References; Tables;
• Pagination: pp 346-356
• Serial:
  • Journal of Rail Transport Planning & Management
  • Volume: 6
  • Issue Number: 4
  • Publisher: Elsevier
  • ISSN: 2210-9706
  • Serial URL: http://www.sciencedirect.com/science/journal/22109706

Subject/Index Terms

• TRT Terms: High speed rail; Passenger transportation; Pricing; Revenues; Tourists
• Geographic Terms: China
• Subject Areas: Economics; Finance; Railroads;

Filing Info

• Accession Number: 01633688
• Record Type: Publication
• Files: TRIS
• Created Date: Apr 28 2017 4:51PM