ProBP Optimization
Optimization is the most fundamental part of revenue management systems, is it is the process used to tailor the set of products being offered to maximize revenue. It typically occurs after untruncation and forecasting.
PassengerSim offers several different optimization algorithms, including probabilistic bid price (ProBP) optimization.
example.yaml
rm_systems:
basic_probp:
availability_control: bp #(2)!
processes:
DCP:
- step_type: untruncation
algorithm: em
kind: leg
- step_type: forecast
algorithm: additive_pickup
kind: leg
- step_type: probp #(1)!
- The
step_type
for probabilistic bid price optimization isprobp
, this is how PassengerSim identifies what to do in this step. - To apply the ProBP optimization results, the
rm_system
should be set to usebp
(bid price) availability controls.