Amaruchkul, Kannapha; Sae-Lim, Patipan - In: Journal of Air Transport Management 17 (2011) 2, pp. 143-147
This paper looks at static overbooking models. In theory, a random show demand follows a binomial distribution with … each reservation showing up independently and with the same probability. However, in practice, some overbooking models … assume that the show demand is the product of the overbooking level and the random show-up rate. The decision model embedded …