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Summary A mathematical model for a booking problem Air companies have several problems in connection with booking. Clients may book for a certain flight some time in advance and are also allowed to cancel their bookings. As a result of this it is possible that an airplane leaves with some places empty or that the company, expecting some clients to cancel their booking, has sold to many places. In both cases losses are the result. In this paper a booking policy that minimizes the expected losses is developed.
Lauren Kosten (Tue,) studied this question.