AI SearchA stochastic model for assessing booking policies of an airline
Call Number: AIT Thesis no. IE-79-21 Material type:
TextSeries: Asian Institute of Technology. Thesis ; no. IE-79-21Publication details: Bangkok : Asian Institute of Technology, 1979Description: vii, 76 pSubject(s): Online resources: Dissertation note: Thesis (M.Eng.) - Asian Institute of Technology, 1979 Summary: Fully reserved passenger-carryings flights frequently depart with significant number of unoccupied seats, mainly due to no-shows and cancellations. Overbooking is thus widely practiced to cope with this problem. However, because of the stochastic variation in demand, cancellation and no-show, overbooking may lead to over sales resulting in last-hour rejection of some of the booked passengers. This thesis is concerned with the development of a mathematical model for determining the appropriate booking level.. A stochastic dynamic programming model is formulated to find the optimal decision level for a non-stop flight carrying one class of passengers. The validity and structure of the model is applied to a real world problem and the results are observed to be satisfactory. A sensitivity analysis of the model is also included. Although the model is applied to a specific case, the methodology can be applied to any airline facing similar problem of passenger reservation.
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20-AIT Publication
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Asian Institute of Technology Library AIT Publications | AIT Thesis no. IE-79-21 (Browse shelf(Opens below)) | 2 | Available | 30050003070686 | |||||||||||||
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Asian Institute of Technology Library Archives | AIT Thesis no. IE-79-21 (Browse shelf(Opens below)) | Available | 30050160011119 |
A thesis submitted in partial fulfillment of the requirements for the degree of Master of Engineering, School of Engineering and Technology
Thesis (M.Eng.) - Asian Institute of Technology, 1979
Fully reserved passenger-carryings flights frequently depart with significant number of unoccupied seats, mainly due to no-shows and cancellations. Overbooking is thus widely practiced to cope with this problem. However, because of the stochastic variation in demand, cancellation and no-show, overbooking may lead to over sales resulting in last-hour rejection of some of the booked passengers. This thesis is concerned with the development of a mathematical model for determining the appropriate booking level.. A stochastic dynamic programming model is formulated to find the optimal decision level for a non-stop flight carrying one class of passengers. The validity and structure of the model is applied to a real world problem and the results are observed to be satisfactory. A sensitivity analysis of the model is also included. Although the model is applied to a specific case, the methodology can be applied to any airline facing similar problem of passenger reservation.
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