About this document
Airline Ticket Pricing Model Analysis by Armando Perdomo is a document available to read on EtoBox.
The document describes a model for airline ticket pricing that was developed using a Markov decision process. The model considers a flight from Chicago to Monterrey with 220 seats over 7 days. It determines that prices should start at $300 and increase incrementally as the number of unsold seats decreases, reaching $700 when fewer than 10 seats remain. Setting the price to $800 was found to not provide optimal revenue. The analysis notes that the model
- Author
- Armando Perdomo
- Language
- EN