Abstract
Revenue Management (Abbr. RM) method was introduced after the deregulation of the U.S. airline industry in 1970s. The application experience shows that RM is a valuable management method for transportation efficiency enhancement. However, there are few literatures reported to exploit RM advantages in passenger high-speed railway. After a brief review of research development of RM in railway, we propose a dynamic optimization model for a single line high speed passenger railway with multiple fares and time periods. Some practical factors such as two way travelling direction, coupling and decoupling of train units, flexible stopping pattern are combined into our model. It is an integrated model that optimizes seat inventory allocation and train departure schedule in order to maximize the overall revenue. With a set of real operational data of a high speed railway, numerical results show that this approach can be applied in practice and may significantly improve the operation performance.
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© 2012 Springer-Verlag GmbH Berlin Heidelberg
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Wang, Y., Lan, B.X., Zhang, L. (2012). A Revenue Management Model for High-Speed Railway. In: Ni, YQ., Ye, XW. (eds) Proceedings of the 1st International Workshop on High-Speed and Intercity Railways. Lecture Notes in Electrical Engineering, vol 147. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-27960-7_9
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DOI: https://doi.org/10.1007/978-3-642-27960-7_9
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-27959-1
Online ISBN: 978-3-642-27960-7
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