Browsing by Author "Liu, Chia-Hsin"

Now showing 1 - 2 of 2

Advance purchase behaviors of air passengers: A continuous logit model
(2016-09)
Chiou, Yu-Chiun
;
Liu, Chia-Hsin
;
運輸與物流管理系註：原交通所+運管所
;
Department of Transportation and Logistics Management
Modeling the advance purchase behaviors of air passengers is essential when airlines develop revenue management strategies. Therefore, this study empirically investigates advance purchase behaviors based on the air ticket transaction data by using a continuous logit model. The estimation results show that advance purchase behaviors are significantly affected by price, price uncertainty, time of day (morning, afternoon and evening flight), days of week (flight on Friday), months of year (peak or off-peak seasons), and consecutive holiday. Accordingly, different pricing strategies should be used for different flights to maximize revenue. (C) 2016 Elsevier Ltd. All rights reserved.
Advance purchase behaviors of air tickets
(2016-10)
Chiou, Yu-Chiun
;
Liu, Chia-Hsin
;
運輸與物流管理系註：原交通所+運管所
;
Department of Transportation and Logistics Management
The advance purchase behaviors of air passengers are essential to develop revenue management strategies of airlines, which should be carefully studied. Based on this, this study aims to empirically investigate the advance purchase behaviors for airline tickets based on the airline transaction data of Taipei-Macau (TPEMFM) route in 2011. In order to model the advance purchase behaviors, multinomial logit models are used. To facilitate model development, the advance purchase horizon is divided into five time periods by three segmentation methods, including equal time periods, time periods with equal number of purchases and time periods according to professional judgment. Several factors contributing to advance purchase behaviors are examined, including price, flight schedule (time of day, day of week, and months of year) and fare class preferences. The estimation results show that the model with segmentation of equal time periods performs best in terms of adjusted rho-square and AIC indices. It is also found that air passengers tend to purchase tickets earlier for the flights in the morning and in hot season, suggesting the fare and seat inventory control should be varied for different flights. (C) 2016 Elsevier Ltd. All rights reserved.