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The role of robust optimization in single-leg airline revenue management. (English) Zbl 1232.90252
Summary: We introduce robust versions of the classical static and dynamic single-leg seat allocation models. These robust models take into account the inaccurate estimates of the underlying probability distributions. As observed by simulation experiments, it turns out that for these robust versions the variability compared to their classical counterparts is considerably reduced with a negligible decrease in average revenue.

MSC:
90B80 Discrete location and assignment
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