Title :
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
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;
Conference_Titel :
Industrial Engineering and Engineering Management (IEEM), 2010 IEEE International Conference on
Conference_Location :
Macao
Print_ISBN :
978-1-4244-8501-7
Electronic_ISBN :
2157-3611
DOI :
10.1109/IEEM.2010.5674227
