Simulation-based methods for booking control in network revenue management

Kunnumkal, S and Topaloglu, H (2010) Simulation-based methods for booking control in network revenue management. Proceedings - Winter Simulation Conference. pp. 1890-1897. ISSN 1558-4305

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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.

Item Type: Article
Subjects: Operations Management
Date Deposited: 13 Nov 2014 06:40
Last Modified: 11 Jul 2023 17:57
URI: https://eprints.exchange.isb.edu/id/eprint/239

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