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Discrete choice model for Amtrak Acela Express revenue management

Cirillo, Cinzia; Hetrakul, Pratt ; Toobaie, Shahab

Journal of revenue and pricing management, 2011, Vol.10(6), pp. 492-513 [Tạp chí có phản biện]

ISSN: 1476-6930

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  • Nhan đề:
    Discrete choice model for Amtrak Acela Express revenue management
  • Tác giả: Cirillo, Cinzia
  • Hetrakul, Pratt ; Toobaie, Shahab
  • Chủ đề: Diskrete Entscheidung ; Revenue-Management ; Schienenverkehr ; Preisniveau ; Nachfrage ; Usa
  • Là 1 phần của: Journal of revenue and pricing management, 2011, Vol.10(6), pp. 492-513
  • Mô tả: In this article, we propose a pricing strategy for Amtrak Acela Express focusing on business class passenger departing from Washington, DC. A two-step process is proposed to model passenger demand. In the first step, passenger choice model of booking time is estimated using a multinomial logit model. In the second step, a linear regression determines passenger demand in response to fare price; the effects of departure day of week and destination specific are incorporated. The proposed models, estimated on ticket reservation data, are incorporated into a non-linear programming problem to maximize expected revenue. The results indicate a potential for significant revenue improvements. [PUBLICATION ]
  • Ngôn ngữ: English
  • Số nhận dạng: ISSN: 1476-6930

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