Stochastic Orders in Risk-Based Overbooking

Kannapha Amaruchkul

Please use this identifier to cite or link to this item: http://cmuir.cmu.ac.th/jspui/handle/6653943832/72063

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DC Field	Value	Language
dc.contributor.author	Kannapha Amaruchkul	en_US
dc.date.accessioned	2021-04-23T08:50:38Z	-
dc.date.available	2021-04-23T08:50:38Z	-
dc.date.issued	2010	en_US
dc.identifier.citation	Chiang Mai Journal of Science 36, 3 (September 2010), 377-383	en_US
dc.identifier.issn	2465-3845	en_US
dc.identifier.uri	https://epg.science.cmu.ac.th/ejournal/dl.php?journal_id=10	en_US
dc.identifier.uri	http://cmuir.cmu.ac.th/jspui/handle/6653943832/72063	-
dc.description	The Chiang Mai Journal of Science is an international English language peer-reviewed journal which is published in open access electronic format 6 times a year in January, March, May, July, September and November by the Faculty of Science, Chiang Mai University. Manuscripts in most areas of science are welcomed except in areas such as agriculture, engineering and medical science which are outside the scope of the Journal. Currently, we focus on manuscripts in biology, chemistry, physics, materials science and environmental science. Papers in mathematics statistics and computer science are also included but should be of an applied nature rather than purely theoretical. Manuscripts describing experiments on humans or animals are required to provide proof that all experiments have been carried out according to the ethical regulations of the respective institutional and/or governmental authorities and this should be clearly stated in the manuscript itself. The Editor reserves the right to reject manuscripts that fail to do so.	en_US
dc.description.abstract	In this article, we propose a risk-based overbooking model, in which an overbooking limit is chosen such that an expected profit is maximized. We derive an optimality condition, when a show demand given a total number of reservations follows a binomial distribution. We also determine a directional change of the optimal overbooking limit with respect to various model parameters, such as a show-up probability, a per-unit revenue and a per-unit oversale cost. Finally, we show that the optimal expected profit decreases, if the show-up probability increases.	en_US
dc.language.iso	Eng	en_US
dc.publisher	Faculty of Science, Chiang Mai University	en_US
dc.subject	stochastic model applications	en_US
dc.subject	operations research	en_US
dc.subject	revenue management	en_US
dc.title	Stochastic Orders in Risk-Based Overbooking	en_US
Appears in Collections:	CMUL: Journal Articles

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