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Revenue Management in Airlines and External Factors Affecting Decisions: The Harmonic Oscillator Model
Journal
Mathematics
ISSN
2227-7390
Author(s)
DOI
10.3390/math12060847
Abstract
The Revenue Management (RM) problem in airlines for a fixed capacity, single resource and two classes has been solved before by using a standard formalism. In this paper we propose a model for RM by using the semi-classical approach of the Quantum Harmonic Oscillator. We then extend the model to include external factors affecting the people’s decisions, particularly those where collective decisions emerge.
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