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A dynamic bid price approach for the seat inventory control problem in railway networks with consideration of
Wuyang Yuan1,2, Lei Nie1,2, Xin Wu1
1School of Traffic and Transportation, Beijing Jiaotong University, Beijing, China, 100044.
Abstract:
Railway seat inventory control aims to maximize ticket sale profits by determining a selling policy on the reservation horizon. This paper introduces a dynamic bid price approach in railway seat inventory control problem. Multi-dimensional demand is taken into consideration in modeling the problem, in which passenger transfer is our main focus. A new approximate approach is designed to this problem. Numerical examples are presented to evaluate the efficiency of this approach. Simulation experiments are conducted to verify the impact of transfer under different scenarios.
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