Modelling for Cruise Two-Dimensional Online Revenue Management System

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Modelling for Cruise Two-Dimensional Online Revenue Management System
To solve the cruise two-dimensional revenue management problem and develop such an automated system under uncertain environment, a static model which is a stochastic integer programming is firstly constructed to maximize the total expected revenue from all kinds of cruise products. Four methods can be applied to solve the above model, which are chance constrained programming, robust optimization, deterministic programming, and bid-price control. In the chance constrained programming method, the stochastic constraints are converted into deterministic equivalent forms. In the robust optimization method, the model is transformed into a goal programming formulations with a scenario-based description of problem data. In the deterministic programming method, the stochastic demand variable is directly replaced with the mean value or expected value of demand. In the bid-price control, the rules for accepting cruise products are proposed. Further, to consider time-variable demand and increase ...
Bingzhou Li
Added 19 May 2011
Updated 19 May 2011
Type Journal
Year 2010
Authors Bingzhou Li
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