This work reconstructs the history of fare policy in the European passenger railway industry and integrates behavioural pricing theory into an agent-based simulation model for railway revenue management. The model is employed to conduct artificial experiments on fare innovations. It represents supply and demand on a transport market including car traffic and is calibrated with empirical data of an incumbent European railway. The model uses a combination of marketing concepts, dynamics in time and social interaction of consumers to analyse revenue effects of different pricing options. This book provides insights for readers interested in the commercial aspects of transportation history. Furthermore, it is directed at researchers interested in pricing theory and the simulation method. It is also a rich source of information for practitioners in the revenue management branches of transport enterprises.
Accurate forecasts are crucial to a revenue management system. Poor estimates of demand lead to inadequate inventory controls and sub-optimal revenue performance. Forecasting for airline revenue management systems is inherently difficult. Competitive actions, seasonal factors, the economic environment, and constant fare changes are a few of the hurdles that must be overcome. In addition, the fact that most of the historical demand data is censored further complicates the problem. This dissertation examines the challenge of forecasting for an airline revenue management system in the presence of censored demand data. This dissertation analyzed the improvement in forecast accuracy that results from estimating demand by unconstraining the censored data. Little research has been done on unconstraining censored data for revenue management systems. Airlines tend to either ignore the problem or use very simple ad hoc methods to deal with it. A literature review explores the current methods for unconstraining censored data. Also, practices borrowed from areas outside of revenue management are adapted to this application. For example, the Expectation-Maximization (EM) and other imputation methods were investigated. These methods are evaluated and tested using simulation and actual airline data. An extension to the EM algorithm that results in a 41% improvement in forecast accuracy is presented.
Research on Agents and Multi-Agent Systems has matured during the last decade and many effective applications of this technology are now deployed. PAAMS provides an international forum to present and discuss the latest scientific developments and their effective applications, to assess the impact of the approach, and to facilitate technology transfer. PAAMS started as a local initiative, but has since grown to become THE international yearly platform to present, to discuss, and to disseminate the latest developments and the most important outcomes related to real-world applications. It provides a unique opportunity to bring multi-disciplinary experts, academics and practitioners together to exchange their experience in the development and deployment of Agents and Multi-Agent Systems. PAAMS intends to bring together researchers and developers from industry and the academic world to report on the latest scientific and technical advances on the application of multi-agent systems, to discuss and debate the major issues, and to showcase the latest systems using agent based technology. It will promote a forum for discussion on how agent-based techniques, methods, and tools help system designers to accomplish the mapping between available agent technology and application needs. Other stakeholders should be rewarded with a better understanding of the potential and challenges of the agent-oriented approach. This edition of PAAMS special sessions. This symposium is organized by the Bioinformatics, Intelligent System and Educational Technology Research Group (http://bisite.usal.es/http://bisite.usal.es/) of the University of Salamanca. The present edition will be held in Salamanca, Spain, from 28th to 30th March 2012. This edition of PAAMS special sessions. This symposium is organized by the Bioinformatics, Intelligent System and Educational Technology Research Group (http://bisite.usal.es/http://bisite.usal.es/) of the University of Salamanca. The present edition will be held in Salamanca, Spain, from 28th to 30th March 2012.
Revenue management (RM) has emerged as one of the most important new business practices in recent times. This book is the first comprehensive reference book to be published in the field of RM. It unifies the field, drawing from industry sources as well as relevant research from disparate disciplines, as well as documenting industry practices and implementation details. Successful hardcover version published in April 2004.
Proceedings of the First International Air Tr. This book presents the proceedings of the First International Air Transport and Operations Symposium, ATOS 2010, held at the Delft University of Technology in The Netherlands. The focus of ATOS 2010 and these proceedings is on how air transport can evolve
Outliers are the key focus of this book. The authors concentrate on the practical aspects of dealing with outliers in the forms of data that arise most often in applications: single and multiple samples, linear regression, and factorial experiments. Available only as an E-Book.
Modeling Applications in the Airline Industry explains the different functions and tactics performed by airlines during their planning and operation phases. Each function receives a full explanation of the challenges it brings and a solution methodology is presented, supported by numerical illustrative examples wherever possible. The book also highlights the main limitations of current practice and provides a brief description of future work related to each function. The authors have filtered the rich literature of airline management to include only the research that has actually been adopted by the airlines, giving a genuinely accurate representation of real airline management and its continuing development of solution methodologies. The book consists of 20 chapters divided into 4 sections: - Demand Modeling and Forecasting - Scheduling of Resources - Revenue Management - Irregular Operations Management. The book will be a valuable source or a handbook for individuals seeking a career in airline management. Written by experts with significant working experience within the industry, it offers readers insights to the real practice of operations modelling. In particular the book makes accessible the complexities of the key airline functions and explains the interrelation between them.
This encyclopedia covers all of the relevant issues in the field of hospitality management from both a sectoral level as well as a functional one. It's unique user-friendly structure enables readers to find exactly the information they require at a glance.
This research monograph aims at developing an integrative framework of hotel revenue management. It elaborates the fundamental theoretical concepts in the field of hotel revenue management like the revenue management system, process, metrics, analysis, forecasting, segmentation and profiling, and ethical issues. Special attention is paid on the pricing and non-pricing revenue management tools used by hoteliers to maximise their revenues and gross operating profit. The monograph investigates the revenue management practices of accommodation establishments in Bulgaria and provides recommendations for their improvement. The book is suitable for undergraduate and graduate students in tourism, hospitality, hotel management, services studies programmes, and researchers interested in revenue/yield management. The book may also be used by hotel general managers, marketing managers, revenue managers and other practitioners looking for ways to improve their knowledge in the field.
