Kunnumkal, S and Topaloglu, H
(2010)
Simulation-based methods for booking control in network revenue management.
In: 43rd Winter Simulation Conference, 5-8, Dec, 2010, USA.
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Abstract
In this paper, we describe simulation-based stochastic approximation algorithms to find good bid price policies for booking control over an airline network. Our general approach visualizes the total expected profit as a function of the bid prices and searches for a good set of bid prices by using sample path derivatives of the total expected profit function. We demonstrate that the iterates of our stochastic approximation algorithms converge to a stationary point of the total expected profit function with probability one. Our computational experiments indicate that the bid prices computed by our approach perform quite well.
ISB Creators: |
ISB Creators | ORCiD |
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Kunnumkal, S | UNSPECIFIED |
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Item Type: |
Conference or Workshop Item
(Paper)
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Uncontrolled Keywords: |
Airline networks; Computational experiment; Expected profits; General approach; Price policy; Revenue management; Sample path; Simulation-based; Simulation-based method; Stationary points; Stochastic approximation algorithms |
Subjects: |
Operations Management |
Depositing User: |
Mohan Dass
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Date Deposited: |
13 Nov 2014 06:40 |
Last Modified: |
13 Nov 2014 13:08 |
URI: |
http://eprints.exchange.isb.edu/id/eprint/239 |
Publisher URL: |
http://dx.doi.org/10.1109/WSC.2010.5678881 |
Related URLs: |
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