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Pricing and Revenue Optimization

Aug 5, 2005  By 

Pricing and Revenue Optimization 

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.

Contents

Introduction to Pricing and Revenue Optimization

18

   
Basic Price Optimization

38

   
Price Differentiation

74

   
Pricing with Constrained Supply

99

   
Revenue Management

120

   
Capacity Allocation

149

   
Network Management

176

   
Overbooking

207

   
Markdown Management

240

   
Customized Pricing

264

   
Pricing and Revenue Optimization and Customer Acceptance

301

   
Appendix A Optimization

323

   
Appendix B Probability

327

   
Bibliography

337

   
Index

345

   
Copyright  
   

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About Robert L. Phillips

Robert L. Phillips

Robert Phillips is Professor of Professional Practice in the Decision, Risk and Operations Division. He is also Director of the Center for Pricing and Revenue Management at Columbia University. His research and teaching interests are in

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