revenue management; air travel demand; discrete choice models
Abstract :
[en] The airline industry changed dramatically in 1978 when it became deregulated. Operations research analysts played a critical role after deregulation by developing algorithms and decision-support systems designed to help airlines to maximize their revenue. More than thirty-five years after deregulation, the airline industry is faced with new challenges. The increased use of the Internet as the major distribution channel and the increased market penetration of low cost carriers have led to an increasing interest in using discrete choice models to model air travel demand as the collection of individual's decisions.
Research Center/Unit :
QuantOM
Disciplines :
Quantitative methods in economics & management
Author, co-author :
Lurkin, Virginie ; Université de Liège > HEC-Ecole de gestion : UER > UER Opérations : Informatique de gestion
Schyns, Michael ; Université de Liège > HEC-Ecole de gestion : UER > UER Opérations : Informatique de gestion
Garrow, Laurie
Language :
English
Title :
What the heck is Revenue Management
Publication date :
08 May 2015
Event name :
Journée de la recherche
Event organizer :
HEC-École de gestion de l'Université de Liège
Event place :
Liège, Belgium
Event date :
8 mai 2015
Name of the research project :
Models and Optimization Algorithms for Air Transport
Funders :
F.R.S.-FNRS - Fonds de la Recherche Scientifique [BE]