Hsu, Chaug-Ing; Li, Hui-Chieh; Liu, Su-Miao; Chao, … - In: Transportation Research Part E: Logistics and … 47 (2011) 1, pp. 41-60
This study developed a stochastic dynamic programming model to optimize airline decisions regarding purchasing, leasing, or disposing of aircraft over time. Grey topological models with Markov-chain were employed to forecast passenger traffic and capture the randomness of the demand. The results...