Publication: Dynamic pricing with (extra) seat reservations under the nested logit model
Dynamic pricing with (extra) seat reservations under the nested logit model
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Barz, C., Gönsch, J., Rauhaus, D., & He, S. (2025). Dynamic pricing with (extra) seat reservations under the nested logit model. OR Spectrum, 47, 1133–1179. https://doi.org/10.1007/s00291-025-00817-y
Abstract
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We suggest a dynamic pricing model for selling extra seats - seat reservations for unoccupied seats that provide additional space alongside regular reservations. Such extra space tickets share the resources of the main product and leverage the unused capacity, offering significant revenue-generation opportunities when coaches, trains, or airplanes frequently depart with empty seats. We formulate a Markov decision process (MDP) representing the ticket sales problem of a transportation company that sells tickets for a single leg in a si
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1436-6304
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Barz, C., Gönsch, J., Rauhaus, D., & He, S. (2025). Dynamic pricing with (extra) seat reservations under the nested logit model. OR Spectrum, 47, 1133–1179. https://doi.org/10.1007/s00291-025-00817-y
