Dynamic Pricing for Airline Revenue Management under Passenger Mental Accounting
Joint Authors
Source
Mathematical Problems in Engineering
Issue
Vol. 2015, Issue 2015 (31 Dec. 2015), pp.1-8, 8 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2015-01-29
Country of Publication
Egypt
No. of Pages
8
Main Subjects
Abstract EN
Mental accounting is a far-reaching concept, which is often used to explain various kinds of irrational behaviors in human decision making process.
This paper investigates dynamic pricing problems for single-flight and multiple flights settings, respectively, where passengers may be affected by mental accounting.
We analyze dynamic pricing problems by means of the dynamic programming method and obtain the optimal pricing strategies.
Further, we analytically show that the passenger mental accounting depth has a positive effect on the flight’s expected revenue for the single flight and numerically illustrate that the passenger mental accounting depth has a positive effect on the optimal prices for the multiple flights.
American Psychological Association (APA)
Hu, Yusheng& Li, Jinlin& Ran, Lun. 2015. Dynamic Pricing for Airline Revenue Management under Passenger Mental Accounting. Mathematical Problems in Engineering،Vol. 2015, no. 2015, pp.1-8.
https://search.emarefa.net/detail/BIM-1074853
Modern Language Association (MLA)
Hu, Yusheng…[et al.]. Dynamic Pricing for Airline Revenue Management under Passenger Mental Accounting. Mathematical Problems in Engineering No. 2015 (2015), pp.1-8.
https://search.emarefa.net/detail/BIM-1074853
American Medical Association (AMA)
Hu, Yusheng& Li, Jinlin& Ran, Lun. Dynamic Pricing for Airline Revenue Management under Passenger Mental Accounting. Mathematical Problems in Engineering. 2015. Vol. 2015, no. 2015, pp.1-8.
https://search.emarefa.net/detail/BIM-1074853
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1074853