99 / 2017-05-18 14:44:49

A General and Bid Price Control Algorithm on Maximized Total Revenue Problem under Fare Class Interval Customer Choice

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In this research we develop a quite general algorithm named as valuing-bidding-mapping algorithm on the maximized total revenue problem to find the optimal closed set at given remaining time and capacity. Our algorithm has three differences with literatures. First, we solve it under a more general fare class set-type customer choice instead of complete set choice model. Second, we have no assumption on optimal policy instead of the usual nesting policy assumption. Third, we applies bid price control in the algorithm, thus the computation task is greatly reduced. Numerical examples show that unlike literatures, the quantity or revenue of optimal set could be not increasing with stage.