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A Part-Refund Model for Airline Overbooking Problem |
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| Authors: | HU Ying XUE Dan HU Liang-jian |
| Affiliation: | 1. Antai College of Economics & Management,Shanghai Jiaotong University,Shanghai 200030,China 2. College of Information Science and Technology,Donghua University,Shanghai 201620,China 3. College of Science,Donghua University,Shanghai 201620,China |
| Abstract: | In this paper,a mathematical model about the optimal booking level problem in airline overbooking management is proposed.Firstly,the normal distribution is employed to approximate Poisson requests and binomial go-shows.By calculating the mean loss,a model to describe the relationship between booking level and flight revenue is established.Then,an equation is deduced to decide the optimal booking level.Finally,a numerical example is utilized to illustrate the proposed model and discuss the impact of refund r... |
| Keywords: | overbooking reTJentle booking level refund rate deniedboarding |
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