This paper presents an application of advanced econometric techniques to railway passenger choices in the context of revenue management. Three modeling approaches; multinomial logit, latent class, and mixed logit models are applied to ticket purchase timing decisions and to three market...

In this paper, discrete choice methods in the form of multinomial logit and latent class models are proposed to explain ticket purchase timing of passenger railway. The choice model and demand functions are incorporated into a revenue optimization problem which jointly considers pricing and seat...