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How to Price: A Guide to Pricing Techniques and Yield Management

Jan 14, 2008  By 

 How to Price

About the Book


” How to Price: A Guide to Pricing Techniques and Yield Management : This book provides an extremely valuable introduction to ‘the art of pricing’. The strength of the book lies in its judicious choice of the topics to be covered and accessibility to a wide range of audiences from advanced undergraduates to practitioners who may have limited technical knowledge. In particular, the coverage of the book on ‘yield management’ truly stands out, where Oz Shy offers a very elegant, intuitive, and simple presentation of dynamic pricing techniques with capacity constraints that have been widely used in the airline and hotel industries. In summary, the book is bound to be the best single source for anyone interested in this broad topic of practical importance.

Over the past four decades, business and academic economists, operations researchers, marketing scientists, and consulting firms have increased their interest and research on pricing and revenue management. This book attempts to introduce the reader to a wide variety of their research results on pricing techniques in a unified, systematic way and at varying levels of difficulty. The book contains a large number of exercises and solutions and therefore can serve as a main or supplementary course textbook, as well as a reference guidebook for pricing consultants, managers, industrial engineers, and writers of pricing software applications. Despite a moderate technical orientation, the book is accessible to readers with a limited knowledge in these fields as well as to readers who have had more training in economics. Most pricing models are first demonstrated by numerical and calculus-free examples and then extended for more technically-oriented readers.
 
 Table of Contents

1. Introduction to pricing techniques

1

   
2. Demand and cost

19

   
3. Basic pricing techniques

59

   
4. Bundling and tying

115

   
5. Multipart tariff

151

   
6. Peak-load pricing

181

   
7. Advance booking

227

   
8. Refund strategies

265

   
9. Overbooking

297

   
10. Quality, loyalty, auctions, and advertising

325

   

11. Tariff-choice biases and warranties

359

   

12. Instructor and solution manual

377

 
    
                                                   

About Oz Shy

Oz Shy

Oz Shy is a senior economist at the Federal Reserve Bank of Boston and a member of the Consumer Payments Research Center in the Research Department. His research focuses on payment instruments and the structure of the banking industry. He

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