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International Conference on Knowledge-Based and Intelligent Information and Engineering Systems

KES 2004: Knowledge-Based Intelligent Information and Engineering Systems pp 937–945Cite as

The Optimal Airline Overbooking Strategy Under Uncertainties

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Part of the book series: Lecture Notes in Computer Science ((LNAI,volume 3213))

Abstract

Determining proper overbooking strategy is important for airlines yield management. However various uncertainties arisen from weather, competitor’s strategies, market demands, and so on, complicate such a decision. This research proposes a method to determine the most suitable overbooking strategy allowed with the consideration of companion uncertainties. This research adopts system simulation and a meta-heuristic search mechanism to find the optimal overbooking strategy based on a given pricing strategy with one target competitor. The experiment results indicate that the proposed approach is able to effectively determine the optimal overbooking strategy among different market scenarios under uncertainties.

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Author information

Authors and Affiliations

  1. Dept. of Information Management, Yuan Ze University, Chungli, Taiwan, Republic of China

    Chaochang Chiu & Chanhsi Tsao

Authors
  1. Chaochang Chiu
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  2. Chanhsi Tsao
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Editor information

Editors and Affiliations

  1. KES International, 2nd Floor, 145-157 St John Street, EC1V 4PY, London, United Kingdom

    Mircea Gh. Negoita

  2. Centre for SMART systems Engineering Research Centre, University of Brighton, BN2 4GJ, Moulsecoomb, Brighton, UK

    Robert J. Howlett

  3. School of Electrical and Information Engineering, Knowledge Based Intelligent Engineering Systems Centre, University of South Australia, 5095, Mawson Lakes, SA, Australia

    Lakhmi C. Jain

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© 2004 Springer-Verlag Berlin Heidelberg

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Chiu, C., Tsao, C. (2004). The Optimal Airline Overbooking Strategy Under Uncertainties. In: Negoita, M.G., Howlett, R.J., Jain, L.C. (eds) Knowledge-Based Intelligent Information and Engineering Systems. KES 2004. Lecture Notes in Computer Science(), vol 3213. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-30132-5_126

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  • DOI: https://doi.org/10.1007/978-3-540-30132-5_126

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-23318-3

  • Online ISBN: 978-3-540-30132-5

  • eBook Packages: Springer Book Archive

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