A Literature Review of Railway Pricing Based on Revenue Management
In recent decades, railway passenger transport enterprises have been exploring numerous operation and management strategies to improve service quality and market competitiveness of railway passenger transport so as to ensure that the interests of railway passenger transport enterprises are maximized...
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-02-01
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| Series: | Mathematics |
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| Online Access: | https://www.mdpi.com/2227-7390/11/4/857 |
| _version_ | 1827756623135768576 |
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| author | Xueyi Guan Jin Qin Chenghui Mao Wenliang Zhou |
| author_facet | Xueyi Guan Jin Qin Chenghui Mao Wenliang Zhou |
| author_sort | Xueyi Guan |
| collection | DOAJ |
| description | In recent decades, railway passenger transport enterprises have been exploring numerous operation and management strategies to improve service quality and market competitiveness of railway passenger transport so as to ensure that the interests of railway passenger transport enterprises are maximized when taking social welfare into account. However, there are still shortcomings in the current research with respect to determining the pricing mechanism and formulating a reasonable price. This paper systematically reviews the scientific literature related to railway pricing, focusing on the application of basic price methods, mathematical programming methods, and data-driven methods in railway pricing, with the hope of proposing an innovative direction to solve existing problems. The main subjects involved in the formulation of railway pricing are passenger groups and transportation companies. The research can be conducted from four broad aspects: passenger demand, passenger time value, market segmentation, and the equilibrium relationship between rail service supply and passenger demand. On the basis of absorbing and summarizing the strengths and weaknesses of previous studies, this paper puts forward suggestions for improvement and innovative directions which will help promote railway passenger transport services from the perspective of pricing, thereby enhancing the sustainability of railway transport. |
| first_indexed | 2024-03-11T08:28:05Z |
| format | Article |
| id | doaj.art-24f89efc098d4049865c709943c2f7cb |
| institution | Directory Open Access Journal |
| issn | 2227-7390 |
| language | English |
| last_indexed | 2024-03-11T08:28:05Z |
| publishDate | 2023-02-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Mathematics |
| spelling | doaj.art-24f89efc098d4049865c709943c2f7cb2023-11-16T21:55:00ZengMDPI AGMathematics2227-73902023-02-0111485710.3390/math11040857A Literature Review of Railway Pricing Based on Revenue ManagementXueyi Guan0Jin Qin1Chenghui Mao2Wenliang Zhou3School of Traffic & Transportation Engineering, Central South University, Changsha 410075, ChinaSchool of Traffic & Transportation Engineering, Central South University, Changsha 410075, ChinaSchool of Traffic & Transportation Engineering, Central South University, Changsha 410075, ChinaSchool of Traffic & Transportation Engineering, Central South University, Changsha 410075, ChinaIn recent decades, railway passenger transport enterprises have been exploring numerous operation and management strategies to improve service quality and market competitiveness of railway passenger transport so as to ensure that the interests of railway passenger transport enterprises are maximized when taking social welfare into account. However, there are still shortcomings in the current research with respect to determining the pricing mechanism and formulating a reasonable price. This paper systematically reviews the scientific literature related to railway pricing, focusing on the application of basic price methods, mathematical programming methods, and data-driven methods in railway pricing, with the hope of proposing an innovative direction to solve existing problems. The main subjects involved in the formulation of railway pricing are passenger groups and transportation companies. The research can be conducted from four broad aspects: passenger demand, passenger time value, market segmentation, and the equilibrium relationship between rail service supply and passenger demand. On the basis of absorbing and summarizing the strengths and weaknesses of previous studies, this paper puts forward suggestions for improvement and innovative directions which will help promote railway passenger transport services from the perspective of pricing, thereby enhancing the sustainability of railway transport.https://www.mdpi.com/2227-7390/11/4/857revenue managementrailway pricingdynamic pricingdifferentiated pricingdata-driven |
| spellingShingle | Xueyi Guan Jin Qin Chenghui Mao Wenliang Zhou A Literature Review of Railway Pricing Based on Revenue Management Mathematics revenue management railway pricing dynamic pricing differentiated pricing data-driven |
| title | A Literature Review of Railway Pricing Based on Revenue Management |
| title_full | A Literature Review of Railway Pricing Based on Revenue Management |
| title_fullStr | A Literature Review of Railway Pricing Based on Revenue Management |
| title_full_unstemmed | A Literature Review of Railway Pricing Based on Revenue Management |
| title_short | A Literature Review of Railway Pricing Based on Revenue Management |
| title_sort | literature review of railway pricing based on revenue management |
| topic | revenue management railway pricing dynamic pricing differentiated pricing data-driven |
| url | https://www.mdpi.com/2227-7390/11/4/857 |
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