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A logarithmic goal programming approach to develop the utility function for a railway travel

Author

Listed:
  • Goutam Dutta
  • Priyanko Ghosh
  • Arushi Wanchoo Kaul

Abstract

Railway passengers are in a dilemma to choose the best train among several alternatives available in a particular route. A relative comparison of competing railways helps the passenger to make an informed choice before the actual travel. In this paper we develop a utility model for a railway travel based on the important attributes. We carry out an analysis on the competing railways for a particular route and calculate the utility score of each train route. The passengers benefit as they are aware of the relative ranking of a particular train on a particular route before they make their choice and the railways benefit as they are able to estimate the market share of each service using a multinomial logit choice model.

Suggested Citation

  • Goutam Dutta & Priyanko Ghosh & Arushi Wanchoo Kaul, 2015. "A logarithmic goal programming approach to develop the utility function for a railway travel," International Journal of Revenue Management, Inderscience Enterprises Ltd, vol. 8(2), pages 153-164.
    • Handle: RePEc:ids:ijrevm:v:8:y:2015:i:2:p:153-164
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    Cited by:

    1. Natesan, Sumeetha R. & Dutta, Goutam, 2020. "Development of Utility Function for Vehicle Insurance: Comparison of Logarithmic Goal Programming Method and Conjoint Analysis Method," IIMA Working Papers WP 2020-02-01, Indian Institute of Management Ahmedabad, Research and Publication Department.
    2. Sumeetha R. Natesan & Goutam Dutta, 2022. "A comparison of logarithmic goal programming and conjoint analysis to generate priority point vectors: an experimental approach," OPSEARCH, Springer;Operational Research Society of India, vol. 59(2), pages 518-549, June.

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