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Digital Library of the
European Council for Modelling and Simulation |
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Title: |
Agent-Based Simulation As A
Support For Price-Setting In Passenger Transport |
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Authors: |
Norman Kellermann |
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Published in:
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(2013).ECMS 2013 Proceedings edited
by: W. Rekdalsbakken, R. T. Bye, H. Zhang European Council for Modeling
and Simulation. doi:10.7148/2013 ISBN:
978-0-9564944-6-7 27th
European Conference on Modelling and Simulation, Aalesund, Norway, May 27th –
30th, 2013 |
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Citation
format: |
Norman Kellermann
(2013). Agent-Based Simulation As A Support For Price-Setting In Passenger
Transport, ECMS 2013 Proceedings edited by: W. Rekdalsbakken, R. T. Bye,
H. Zhang, European Council for Modeling and Simulation. doi:10.7148/2013-0333 |
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DOI: |
http://dx.doi.org/10.7148/2013-0333 |
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Abstract: |
Companies operating in
passenger transport face the challenge that they cannot easily assess the
effects of pricing decisions they take. Particularly, many incumbent European
Railways are revisiting their traditional pricing structures based on static distancebased fares and develop new ways for pricing
their services. Building on insights of behavioural
pricing and Revenue Management, I investigate on alternative, more
revenue-efficient pricing structures for a focal railway company given individual
passenger price reaction behaviour and intramodal competition. First experiments with the model
suggest that a limited quota for permanent special offers is counterproductive,
while an increase in fuel price gets relatively quickly
absorbed by the market. |
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