Collaborative Optimization of Dynamic Pricing and Seat Allocation for High-Speed Railways: An Empirical Study From China

IEEE Access

Xia Yang¹  Jin Qin²  Yijia Zeng²  Xuanke Wu²  Wenxuan Qu² 

[1] Department of Civil Engineering, SUNY Polytechnic Institute, Utica, NY, USA;School of Traffic and Transportation Engineering, Central South University, Changsha, China;

关键词: High-speed railway (HSR);    dynamic pricing;    seat allocation;    collaborative optimization;    revenue management (RM);   

DOI  :  10.1109/ACCESS.2019.2943229

来源: DOAJ

【 摘 要 】

In order to improve the high-speed trains' service levels and increase their market shares, the Chinese high-speed railway (HSR) enterprise is reforming its ticket pricing strategy. A collaborative model that incorporates seat allocation decision into HSR dynamic pricing problem based on the revenue management theory is proposed, in which the objective is to maximize the total ticket revenue of enterprise under the constrains of price ceilings. A two-stage algorithm is developed to solve practical problems. The first stage solves the optimal price problem, and the second is to obtain the optimal seat allocation decisions. Finally, a case study based on the actual ticket data of Beijing-Shanghai HSR in China is implemented to show the effectiveness of the proposed approach, for which the results show that compared with the fixed price case, the revenue improvement ranges from 4.47% to 4.95% by using dynamic pricing strategy. Also, the case analysis shows that dynamic pricing strategy will lead to an increase in short-haul demands whereas a decrease in long-haul demands.

【 授权许可】

Unknown