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Modelling the Air Ticket Purchase Behavior Incorporating Latent Class Model
Joint Authors
Lu, Jing
Wang, Zheqing
Gu, Yingjing
Yang, Wenhui
Source
Mathematical Problems in Engineering
Issue
Vol. 2020, Issue 2020 (31 Dec. 2020), pp.1-12, 12 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2020-02-27
Country of Publication
Egypt
No. of Pages
12
Main Subjects
Abstract EN
As passengers are proved to be preference heterogeneous in air travel, this paper tries to model the air ticket purchase behavior incorporating market segmentation.
In the research, a latent-NL model, established on the latent class structure and the nested logit model, integrates the personal features as well as the purchase preferences into the forecast of segment-specific purchase probability.
In order to calibrate the model, a stated preference survey is designed with the choice profiles using real service information, and the survey is conducted in four cities in China for data collection.
The results show that the proposed model provides an effective approach for predicting the air travel demand in particular for air ticket pricing, and the estimation results outperforms the traditional-nested logit model with higher goodness-of-fit.
Besides, the model is then adopted to test the efficiency of different pricing strategies, showing its advantages in improving the flight revenues.
American Psychological Association (APA)
Lu, Jing& Wang, Zheqing& Gu, Yingjing& Yang, Wenhui. 2020. Modelling the Air Ticket Purchase Behavior Incorporating Latent Class Model. Mathematical Problems in Engineering،Vol. 2020, no. 2020, pp.1-12.
https://search.emarefa.net/detail/BIM-1193661
Modern Language Association (MLA)
Lu, Jing…[et al.]. Modelling the Air Ticket Purchase Behavior Incorporating Latent Class Model. Mathematical Problems in Engineering No. 2020 (2020), pp.1-12.
https://search.emarefa.net/detail/BIM-1193661
American Medical Association (AMA)
Lu, Jing& Wang, Zheqing& Gu, Yingjing& Yang, Wenhui. Modelling the Air Ticket Purchase Behavior Incorporating Latent Class Model. Mathematical Problems in Engineering. 2020. Vol. 2020, no. 2020, pp.1-12.
https://search.emarefa.net/detail/BIM-1193661
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1193661