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A co-evolutionary matheuristic for the car rental capacity-pricing stochastic problem

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  • Oliveira, Beatriz B.
  • Carravilla, Maria Antónia
  • Oliveira, José F.
  • Costa, Alysson M.

Abstract

When planning a selling season, a car rental company must decide on the number and type of vehicles in the fleet to meet demand. The demand for the rental products is uncertain and highly price-sensitive, and thus capacity and pricing decisions are interconnected. Moreover, since the products are rentals, capacity “returns”. This creates a link between capacity with fleet deployment and other tools that allow the company to meet demand, such as upgrades, transferring vehicles between locations or temporarily leasing additional vehicles.

Suggested Citation

  • Oliveira, Beatriz B. & Carravilla, Maria Antónia & Oliveira, José F. & Costa, Alysson M., 2019. "A co-evolutionary matheuristic for the car rental capacity-pricing stochastic problem," European Journal of Operational Research, Elsevier, vol. 276(2), pages 637-655.
    • Handle: RePEc:eee:ejores:v:276:y:2019:i:2:p:637-655
    DOI: 10.1016/j.ejor.2019.01.015
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    2. Soares, Leonardo Cabral R. & Carvalho, Marco Antonio M., 2020. "Biased random-key genetic algorithm for scheduling identical parallel machines with tooling constraints," European Journal of Operational Research, Elsevier, vol. 285(3), pages 955-964.
    3. Oliveira, Beatriz Brito & Carravilla, Maria Antónia & Oliveira, José Fernando, 2022. "A diversity-based genetic algorithm for scenario generation," European Journal of Operational Research, Elsevier, vol. 299(3), pages 1128-1141.
    4. Nikzad, Erfaneh & Bashiri, Mahdi & Abbasi, Babak, 2021. "A matheuristic algorithm for stochastic home health care planning," European Journal of Operational Research, Elsevier, vol. 288(3), pages 753-774.

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