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Author : Jian Chen
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)
Download or read book Capacity and Pricing Management with Demand Learning written by Jian Chen and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Guillermo Gallego
Publisher : Springer
ISBN 13 : 1493996061
Total Pages : 336 pages
Book Rating : 4.4/5 (939 download)
Download or read book Revenue Management and Pricing Analytics written by Guillermo Gallego and published by Springer. This book was released on 2019-08-14 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: “There is no strategic investment that has a higher return than investing in good pricing, and the text by Gallego and Topaloghu provides the best technical treatment of pricing strategy and tactics available.” Preston McAfee, the J. Stanley Johnson Professor, California Institute of Technology and Chief Economist and Corp VP, Microsoft. “The book by Gallego and Topaloglu provides a fresh, up-to-date and in depth treatment of revenue management and pricing. It fills an important gap as it covers not only traditional revenue management topics also new and important topics such as revenue management under customer choice as well as pricing under competition and online learning. The book can be used for different audiences that range from advanced undergraduate students to masters and PhD students. It provides an in-depth treatment covering recent state of the art topics in an interesting and innovative way. I highly recommend it." Professor Georgia Perakis, the William F. Pounds Professor of Operations Research and Operations Management at the Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts. “This book is an important and timely addition to the pricing analytics literature by two authors who have made major contributions to the field. It covers traditional revenue management as well as assortment optimization and dynamic pricing. The comprehensive treatment of choice models in each application is particularly welcome. It is mathematically rigorous but accessible to students at the advanced undergraduate or graduate levels with a rich set of exercises at the end of each chapter. This book is highly recommended for Masters or PhD level courses on the topic and is a necessity for researchers with an interest in the field.” Robert L. Phillips, Director of Pricing Research at Amazon “At last, a serious and comprehensive treatment of modern revenue management and assortment optimization integrated with choice modeling. In this book, Gallego and Topaloglu provide the underlying model derivations together with a wide range of applications and examples; all of these facets will better equip students for handling real-world problems. For mathematically inclined researchers and practitioners, it will doubtless prove to be thought-provoking and an invaluable reference.” Richard Ratliff, Research Scientist at Sabre “This book, written by two of the leading researchers in the area, brings together in one place most of the recent research on revenue management and pricing analytics. New industries (ride sharing, cloud computing, restaurants) and new developments in the airline and hotel industries make this book very timely and relevant, and will serve as a critical reference for researchers.” Professor Kalyan Talluri, the Munjal Chair in Global Business and Operations, Imperial College, London, UK.
Author : Özalp Özer
Publisher : OUP Oxford
ISBN 13 : 0191634271
Total Pages : 976 pages
Book Rating : 4.1/5 (916 download)
Download or read book The Oxford Handbook of Pricing Management written by Özalp Özer and published by OUP Oxford. This book was released on 2012-06-07 with total page 976 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Pricing Management is a comprehensive guide to the theory and practice of pricing across industries, environments, and methodologies. The Handbook illustrates the wide variety of pricing approaches that are used in different industries. It also covers the diverse range of methodologies that are needed to support pricing decisions across these different industries. It includes more than 30 chapters written by pricing leaders from industry, consulting, and academia. It explains how pricing is actually performed in a range of industries, from airlines and internet advertising to electric power and health care. The volume covers the fundamental principles of pricing, such as price theory in economics, models of consumer demand, game theory, and behavioural issues in pricing, as well as specific pricing tactics such as customized pricing, nonlinear pricing, dynamic pricing, sales promotions, markdown management, revenue management, and auction pricing. In addition, there are articles on the key issues involved in structuring and managing a pricing organization, setting a global pricing strategy, and pricing in business-to-business settings.
Author : Robert Phillips
Publisher : Stanford University Press
ISBN 13 : 0804781648
Total Pages : 470 pages
Book Rating : 4.8/5 (47 download)
Download or read book Pricing and Revenue Optimization written by Robert Phillips and published by Stanford University Press. This book was released on 2005-08-05 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive introduction to the concepts, theories, and applications of pricing and revenue optimization. From the initial success of "yield management" in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimize pricing has become increasingly important across many different industries. But, since pricing and revenue optimization has involved the use of sophisticated mathematical techniques, the topic has remained largely inaccessible to students and the typical manager. With methods proven in the MBA courses taught by the author at Columbia and Stanford Business Schools, this book presents the basic concepts of pricing and revenue optimization in a form accessible to MBA students, MS students, and advanced undergraduates. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. Solutions to the end-of-chapter exercises are available to instructors who are using this book in their courses. For access to the solutions manual, please contact [email protected].
Author : Özalp Özer
Publisher : OUP Oxford
ISBN 13 : 0191634263
Total Pages : 976 pages
Book Rating : 4.1/5 (916 download)
Download or read book The Oxford Handbook of Pricing Management written by Özalp Özer and published by OUP Oxford. This book was released on 2012-06-07 with total page 976 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Pricing Management is a comprehensive guide to the theory and practice of pricing across industries, environments, and methodologies. The Handbook illustrates the wide variety of pricing approaches that are used in different industries. It also covers the diverse range of methodologies that are needed to support pricing decisions across these different industries. It includes more than 30 chapters written by pricing leaders from industry, consulting, and academia. It explains how pricing is actually performed in a range of industries, from airlines and internet advertising to electric power and health care. The volume covers the fundamental principles of pricing, such as price theory in economics, models of consumer demand, game theory, and behavioural issues in pricing, as well as specific pricing tactics such as customized pricing, nonlinear pricing, dynamic pricing, sales promotions, markdown management, revenue management, and auction pricing. In addition, there are articles on the key issues involved in structuring and managing a pricing organization, setting a global pricing strategy, and pricing in business-to-business settings.
Author : Gabriel R. Bitran
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (356 download)
Download or read book A Methodology for Demand Learning with an Application to the Optimal Pricing of Seasonal Products written by Gabriel R. Bitran and published by . This book was released on 1996 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert L. Phillips
Publisher : Stanford University Press
ISBN 13 : 1503614263
Total Pages : 503 pages
Book Rating : 4.5/5 (36 download)
Download or read book Pricing and Revenue Optimization written by Robert L. Phillips and published by Stanford University Press. This book was released on 2021-05-18 with total page 503 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers the first introduction to the concepts, theories, and applications of pricing and revenue optimization. From the initial success of "yield management" in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimize pricing has become increasingly important across many different industries. But, since pricing and revenue optimization has involved the use of sophisticated mathematical techniques, the topic has remained largely inaccessible to students and the typical manager. With methods proven in the MBA courses taught by the author at Columbia and Stanford Business Schools, this book presents the basic concepts of pricing and revenue optimization in a form accessible to MBA students, MS students, and advanced undergraduates. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. With updates to every chapter, this second edition covers topics such as estimation of price-response functions and machine-learning-based price optimization. New discussions of applications of dynamic pricing and revenue management by companies such as Amazon, Uber, and Disney, and in industries such as sports, theater, and electric power, are also included. In addition, the book provides current coverage of important applications such as revenue management, markdown management, customized pricing, and the behavioral economics of pricing.
Author : Annelies van der Veen
Publisher : Van Haren
ISBN 13 : 9087535864
Total Pages : 233 pages
Book Rating : 4.0/5 (875 download)
Download or read book Capacity Management - A Practitioner Guide written by Annelies van der Veen and published by Van Haren. This book was released on 1970-01-01 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capacity Management is described in most key ITSM frameworks: ITIL, ISO 20000 Microsoft Operations Framework (MOF) and the Application Service Library (ASL) all note the importance of Capacity Management. This major title meets the need for an in-depth practical guide to this critical process. Written and reviewed by some of the world s most respected experts in this field it shows how Capacity Management best practice can support provision of a consistent, acceptable service level at a known and controlled cost. Practical advice covers the essential control of two balances: Supply versus demand and resources versus cost. In times of mean, frugal economic measures, it is essential to focus on those practices that are effective and yield practical results. In enlightened times of sustainability, it is also a requirement to find solutions that satisfy the criteria for 'greenness'. This excellent title shows how Capacity Management works not only within an IT environment but also why it is pivotal in meeting high profile business demands. Aligns with ISO/IEC 20000 and ITIL® ISO/IEC lists a set of required capacity management deliverables ITIL outlines what should be done in capacity management this book starts to describe how to do it Covers details of what capacity management is all about: what is capacity management why do it benefits and cost-benefit analysis how to do it data-flows and activities who does it roles and perspectives implementation, maintenance, improvement, tools Provides comprehensive templates and checklists: objectives, interfaces and data-flows, sub-practices and activities metrics, application sizing parameters, data for modelling deliverables, reports, CMMI levels, KPIs, risk matrix sample capacity plan
Author : Guillermo Gallego
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (13 download)
Download or read book Demand Learning and Dynamic Pricing for Multi-Version Products written by Guillermo Gallego and published by . This book was released on 2016 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a capacity provider who offers multiple versions of a single product, such as different seat locations for an event. We assume that the different versions share an unknown core value and command a known premium or discount relative to the core value. Customers arrive at an unknown arrival rate during a finite sales horizon. We assume that the provider has a prior knowledge about the arrival rate which is updated using Bayesian rule. Estimates of the core value are updated using maximum likelihood estimation. We show how to simultaneously estimate the unknown parameters as the sales evolve and how to price the products to maximize revenues under a rolling horizon framework.
Author : Anyan Qi
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (13 download)
Download or read book Capacity Investment with Demand Learning written by Anyan Qi and published by . This book was released on 2016 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study a firm's optimal strategy to adjust its capacity using demand information. The capacity adjustment is costly and often subject to managerial hurdles which sometimes make it difficult to adjust capacity multiple times. In order to clearly analyze the impact of demand learning on the firm's decision, we study two scenarios. In the first scenario, the firm's capacity adjustment cost increases significantly with respect to the number of adjustments because of significant managerial hurdles, and resultantly the firm has a single opportunity to adjust capacity (single adjustment scenario). In the second scenario, the capacity adjustment costs do not change with respect to the number of adjustments because of little managerial hurdles, and therefore the firm has multiple opportunities to adjust capacity (multiple adjustment scenario). For both scenarios, we first formulate the problem as a stochastic dynamic program, and then characterize the firm's optimal policy: when to adjust and by how much. We show that the optimal decision on when and by how much to change the capacity is not monotone in the likelihood of high demand in the single adjustment scenario, while the optimal decision is monotone under mild conditions and the optimal policy is a control band policy in the multiple adjustment scenario. The sharp contrast reflects the impact of demand learning on the firm's optimal capacity decision. Since computing and implementing the optimal policy is not tractable for general problems, we develop a data-driven heuristic for each scenario. In the single adjustment scenario, we show that a two-step heuristic which explores demand for an appropriately chosen length of time and adjusts the capacity based on the observed demand is asymptotically optimal, and prove the convergence rate. In the multiple adjustment scenario, we also show that a multi-step heuristic under which the firm adjusts its capacity at a predetermined set of periods with exponentially increasing gap between two consecutive decisions is asymptotically optimal and show its convergence rate. We finally apply our heuristics to a numerical study and demonstrate the performance and robustness of the heuristics.
Author : Carine Anne Marie Simon
Publisher :
ISBN 13 :
Total Pages : 204 pages
Book Rating : 4.:/5 (231 download)
Download or read book Dynamic Pricing with Demand Learning Under Competition written by Carine Anne Marie Simon and published by . This book was released on 2007 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: (cont.) Finally, we consider closed-loop strategies in a duopoly market when demand is stochastic. Unlike open-loop policies (such policies are computed once and for all at the beginning of the time horizon), closed loop policies are computed at each time period, so that the firm can take advantage of having observed the past random disturbances in the market. In a closed-loop setting, subgame perfect equilibrium is the relevant notion of equilibrium. We investigate the existence and uniqueness of a subgame perfect equilibrium strategy, as well as approximations of the problem in order to be able to compute such policies more efficiently.
Author : Wang Chi Cheung
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (13 download)
Download or read book Dynamic Pricing and Demand Learning with Limited Price Experimentation written by Wang Chi Cheung and published by . This book was released on 2017 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a dynamic pricing problem where the demand function is not known a priori, price experimentation can be used as a demand learning tool. Existing literature usually assumes no constraint on price changes, but in practice sellers often face business constraints that prevent them from conducting extensive experimentation. We consider a dynamic pricing model where the demand function is unknown but belongs to a known finite set. The seller is allowed to make at most m price changes during T periods. The objective is to minimize the worst case regret, i.e., the expected total revenue loss compared to a clairvoyant who knows the demand distribution in advance. We demonstrate a pricing policy that incurs a regret of O(log^(m) T), or m iterations of the logarithm. Furthermore, we describe an implementation at Groupon, a large e-commerce marketplace for daily deals. The field study shows significant impact on revenue and bookings.
Author : Ian Yeoman
Publisher : Cengage Learning
ISBN 13 : 9781844800629
Total Pages : 0 pages
Book Rating : 4.8/5 (6 download)
Download or read book Revenue Management and Pricing written by Ian Yeoman and published by Cengage Learning. This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Revenue management is the process of allocating the right inventory to the right kind of customer at the right price to maximise revenue. It applies particularly to the service sector. Covering numerous industries, these case studies demonstrate a variety of scenarios, problems and solutions.
Author : John Drogosz
Publisher :
ISBN 13 :
Total Pages : 232 pages
Book Rating : 4.3/5 (91 download)
Download or read book Pricing and Capacity Decisions Under Demand Uncertainty written by John Drogosz and published by . This book was released on 1998 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Julie Meehan
Publisher : John Wiley & Sons
ISBN 13 : 047082705X
Total Pages : 256 pages
Book Rating : 4.4/5 (78 download)
Download or read book Pricing and Profitability Management written by Julie Meehan and published by John Wiley & Sons. This book was released on 2011-06-28 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The practical guide to using pricing and profitability management to build a better business A comprehensive reference for any business professional looking to understand the capabilities and competencies required for effectively managing pricing and profitability, Pricing and Profitability Management explains how to determine the right approach, tools, and techniques for each of six key categories (pricing strategy, price execution, advanced analytics and optimization, organizational alignment and governance, pricing technology and data management, and tax and regulatory effectiveness). Exploring each category in detail, the book addresses how an integrated approach to pricing improvement can give a sustainable, competitive advantage to any organization. The ultimate "how to" manual for any executive or manager interested in price management, the book presents a holistic, comprehensive framework that shows how integrating these pricing categories into a cohesive program leads to impressive gains that cannot be achieved through a single-pronged approach. Presents a comprehensive framework for more effectively managing pricing and profitability Identities the six key categories of pricing and profitability management Shows you how to gain a competitive edge by managing pricing and profitability Taking a comprehensive view of pricing, companies can position themselves to tap a vast source of shareholder value—the ability to set and enforce profitable prices, not just once, but again and again in response to marketplace changes and evolving business needs—and this book will show you how.
Author : Reggiani, Aura
Publisher : Edward Elgar Publishing
ISBN 13 : 1839100591
Total Pages : 640 pages
Book Rating : 4.8/5 (391 download)
Download or read book Handbook on Entropy, Complexity and Spatial Dynamics written by Reggiani, Aura and published by Edward Elgar Publishing. This book was released on 2021-12-14 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: This ground-breaking Handbook presents a state-of-the-art exploration of entropy, complexity and spatial dynamics from fundamental theoretical, empirical and methodological perspectives. It considers how foundational theories can contribute to new advances, including novel modeling and empirical insights at different sectoral, spatial and temporal scales.
Author : Xi Chen
Publisher : Springer Nature
ISBN 13 : 3031019261
Total Pages : 444 pages
Book Rating : 4.0/5 (31 download)
Download or read book The Elements of Joint Learning and Optimization in Operations Management written by Xi Chen and published by Springer Nature. This book was released on 2022-09-20 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines recent developments in Operations Management, and focuses on four major application areas: dynamic pricing, assortment optimization, supply chain and inventory management, and healthcare operations. Data-driven optimization in which real-time input of data is being used to simultaneously learn the (true) underlying model of a system and optimize its performance, is becoming increasingly important in the last few years, especially with the rise of Big Data.
