A Lagrangian relaxation approach for network inventory control of stochastic revenue management with perishable commodities

@article{Jiang2008ALR,
  title={A Lagrangian relaxation approach for network inventory control of stochastic revenue management with perishable commodities},
  author={H. Jiang},
  journal={Journal of the Operational Research Society},
  year={2008},
  volume={59},
  pages={372-380}
}
Airline seat inventory control is the allocation of seats in the same cabin to different fare classes such that the total revenue is maximized. Seat allocation can be modelled as dynamic stochastic programs, which are computationally intractable in network settings. Deterministic and probabilistic mathematical programming models are therefore used to approximate dynamic stochastic programs. The probabilistic model, which is the focus of this paper, has a nonlinear objective function, which… CONTINUE READING
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