A study on revenue management of Taiwan High Speed Railway

Author

Chuang, H.M. ; Chu, C.P. ; Niu, W.F.

Author_Institution

Dept. of Bus. Adm., Nat. Dong-hwa Univ., Hualien, Taiwan

fYear

2010

fDate

7-10 Dec. 2010

Firstpage

999

Lastpage

1003

Abstract

This study applies yield management to calculate the optimum rate and discriminate price rates for Taiwan High Speed Railway to maximize the revenue. The authors find: 1. The north bound train prices have higher average elasticity than the south bound train, which could be taken advantages to increase the revenue. 2. When the price elasticity is set to be 1.2 based on the price discriminations, there could be 3.37%-6.59% revenue increase potential. 3. Adopting the reservation data to adjust the prices and allocation of the unreserved seats, we can find the optimum ratio and price.

Keywords

financial management; pricing; railway industry; sales management; Taiwan high speed railway; discriminate price rate; optimum rate; price discrimination; revenue management; train price elasticity; unreserved seat allocation; Classification tree analysis; Elasticity; Impurities; Loading; Rail transportation; Regression tree analysis; Classification and regression tree; decision tree; revenue management;

fLanguage

English

Publisher

ieee

Conference_Titel

Industrial Engineering and Engineering Management (IEEM), 2010 IEEE International Conference on

Conference_Location

Macao

ISSN

2157-3611

Print_ISBN

978-1-4244-8501-7

Electronic_ISBN

2157-3611

Type

conf

DOI

10.1109/IEEM.2010.5674227

Filename

5674227