Asymptotic optimality of freight booking control problem for the rail container carrier

In this paper, we consider the freight booking control problem for the rail container carrier. The problem is formulated as a stochastic optimization problem to set freight booking limits for maximizing the total revenue generated by all accepted bookings. We derive the fluid limit of the problem un...

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Bibliographic Details
Published in2009 16th International Conference on Industrial Engineering and Engineering Management pp. 415 - 419
Main Authors Chengxuan Cao, Ziyou Gao, Keping Li
Format Conference Proceeding
LanguageEnglish
Published IEEE 01.10.2009
Subjects
Asymptotic optimality
Booking control
Containers
Leg
Marketing and sales
Mathematical model
Optimal control
Rail container
Rail transportation
Railway safety
Road transportation
Stochastic processes
Technology management
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Summary:In this paper, we consider the freight booking control problem for the rail container carrier. The problem is formulated as a stochastic optimization problem to set freight booking limits for maximizing the total revenue generated by all accepted bookings. We derive the fluid limit of the problem under the optimal booking control policy.
ISBN:1424436710
9781424436712
DOI:10.1109/ICIEEM.2009.5344559