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Event

Combining Packing and Revenue Management: Dynamic Pricing for Vehicle Ferries

Join Dr Christine Currie from the Univeristy of Southampton for this week's seminar.

Thu 25 Jan 18

14:00 - 15:00
Colchester Campus

Room EBS 2.1
Event speaker

Dr Christine Currie
Event type

Lectures, talks and seminars
Department of Mathematical Sciences Seminar Series
Event organiser

Mathematical Sciences, Department of
Contact details

Dr Andrew Harrison harry@essex.ac.uk

The talk will describe the vehicle ferry revenue management problem, where the aim is to maximise the revenue obtained from the sale of vehicle tickets by varying the prices charged to different vehicle types, each occupying a different amount of deck space. During the talk, Dr Currie will discuss two ways of approaching the problem. The first makes use of mixed integer programming and gives an exact solution, while the second relies on heuristics and is able to solve much more substantial problems. If there is sufficient time at the end, Dr Currie will demonstrate the simulator that has been built to mimic the ferry loading process and explain how this can be used by the company she is working with to both train loaders and investigate different scenarios.