A Framework and Models for Evaluating the Multifare Dynamic Pricing Mechanism of Low-cost Carriers

Kuancheng Huang; Yi-Ya Peng; I-Wen Wu

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A Framework and Models for Evaluating the Multifare Dynamic Pricing Mechanism of Low-cost Carriers

机译：低成本航空公司多票价动态定价机制评估的框架和模型

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In general, traditional airlines (legacy airlines or full-service airlines) develop multifare mechanisms and rely on seat inventory control to make quantity-based decisions. On the other hand, low-cost carriers (LCCs) tend to adopt the single-fare system and dynamically adjust the price. Nonetheless, more and more LCCs have begun to offer multiple-fare classes so as to take advantage of market segmentation and price discrimination. In order to evaluate the effectiveness of various revenue management (RM) mechanisms, the concept of willingness-to-pay is applied to model the customer choice with respect to RM control decisions. Dynamic program-ming-based models are then developed to provide a unified framework to evaluate the dynamic pricing mechanism of LCCs against the traditional seat inventory control policy that makes the open/close decisions of the fare classes with predetermined prices. Based on the numerical experiment, it is found that the former results in significantly higher revenue than the latter.

机译：通常，传统航空公司（传统航空公司或提供全方位服务的航空公司）会开发多种票价机制，并依靠座位库存控制做出基于数量的决策。另一方面，低成本航空公司（LCC）倾向于采用单价系统并动态调整价格。尽管如此，越来越多的低成本航空公司已经开始提供多种票价，以利用市场细分和价格歧视的优势。为了评估各种收入管理（RM）机制的有效性，采用了付款意愿的概念来建模有关RM控制决策的客户选择。然后开发基于动态程序模型的模型，以提供一个统一的框架，以根据传统座位库存控制策略评估LCC的动态定价机制，而传统座位库存控制策略会以预定价格对票价类别进行开/关决策。根据数值实验，发现前者的收入明显高于后者。

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来源
《Transportation Journal》 |2013年第3期|308-322|共15页
作者
Kuancheng Huang; Yi-Ya Peng; I-Wen Wu;
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作者单位

Department of Transportation Technology and Management National Chiao Tung University;

Department of Transportation Technology and Management National ChiaoTung University;

Department of Transportation Technology and Management National ChiaoTung University;

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收录信息美国《科学引文索引》(SCI);
原文格式 PDF
正文语种 eng
中图分类
关键词
Revenue management; low-cost carriers; dynamic pricing; seat control policy;

机译：收入管理;低成本航空公司;动态定价;座位控制政策;

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A Framework and Models for Evaluating the Multifare Dynamic Pricing Mechanism of Low-cost Carriers

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