Research On Dynamic Pricing Of High-speed Railway Based On Revenue Management

With the massive construction and opening of high-speed rail, the efficiency of passenger transport is gradually increased, but whether the scientific and efficient high-speed rail operations, the pricing mechanism is essential. For current high speed rail pricing mechanism can not meet the demand of high-speed rail sustainable development, the National Development and Reform Commission issued the notice concerning the pricing of high-speed rail, the China Railway Corporation has right to implement dynamic pricing according to passengers demand. Therefore, the study of dynamic pricing methods to improve the competitiveness of the high-speed rail has become one of the key issues in the high-speed rail operation management.Based on the theory of revenue management, this paper studies the dynamic pricing problem of high speed rail. Firstly, through the review of domestic and foreign research, this paper puts forward the research direction and framework of the thesis. Secondly, it reviews the theory and model of revenue management, which lays a theoretical foundation for the study of dynamic pricing of high speed rail. Thirdly, by analyzing the characteristics of passenger demand, the demand function which depends on the price and seat is put forward, and the process of parameter calibration of the demand function is described. Fourthly, based on the joint model of dynamic pricing and seat inventory control and also the demand function, the joint function with the target to maximize the operation of the railway sector earnings has been established, and the solution of model has been made with principle of simulated annealing algorithm. The building of the model can effectively guide the guests, at the trough period of demand, passengers can be attracted through lowing fares and train attendance rate can be effectively improved. At the peak period of demand, passenger can be dispersed and transport pressure eased with price appropriately increased. Finally empirical analysis has been made with Wuhan-Guangzhou High-speed Railway studied, the demand function of trough and peak period of demand has been desperately build, on the basis of this, the optimal total income and the income of each section are obtained, and the validity of the model is proved by comparing with the existing pricing methods. The empirical results show that the dynamic pricing model based on revenue management can better balance the passenger flow and improve the operating income, compared with the existing fare revenue, the railway operating sector in the demand for trough period revenue increased by 11.20%, the demand for peak period revenue increased by 6.31%.