167 KB, PDF document
Research output: Working paper
Research output: Working paper
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TY - UNPB
T1 - Railway Revenue Management: Overview and Models
AU - Armstrong, A
AU - Meissner, J
PY - 2010
Y1 - 2010
N2 - The railway industry offers similar revenue management opportunities to those found in the airline industry. The railway industry caters for the delivery and management of cargo as well as the transport of passengers. Unlike the airline industry, the railway industry has seen relatively little attention to revenue management problems. We provide an overview of the published literature for both passenger and freight rail revenue management. We include a summary of the some the available models and include some possible extensions. From the existing literature and talks with industry, it is clear that that there is room to exploit revenue management techniques in the railway industry, an industry that has revenues of $60 billion in the US and promises huge growth in Europe in the forthcoming years.
AB - The railway industry offers similar revenue management opportunities to those found in the airline industry. The railway industry caters for the delivery and management of cargo as well as the transport of passengers. Unlike the airline industry, the railway industry has seen relatively little attention to revenue management problems. We provide an overview of the published literature for both passenger and freight rail revenue management. We include a summary of the some the available models and include some possible extensions. From the existing literature and talks with industry, it is clear that that there is room to exploit revenue management techniques in the railway industry, an industry that has revenues of $60 billion in the US and promises huge growth in Europe in the forthcoming years.
KW - railway
KW - revenue management
KW - pricing
KW - passenger
KW - freight
KW - models
M3 - Working paper
T3 - Management Science Working Paper Series
BT - Railway Revenue Management: Overview and Models
PB - The Department of Management Science
CY - Lancaster University
ER -