Pricing and Revenue Optimization

By. Robert Phillips 05th Aug 2005

Book Discription

Pricing and Revenue Optimization

First Edition: Published 05, August 2005

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.

However, pricing and revenue optimization has often been seen as inaccessible due to its reliance on complex mathematical techniques. This book aims to bridge that gap by presenting the fundamental concepts in a way that is understandable for MBA students, MS students, and advanced undergraduates. It also offers practical insights for managers grappling with pricing and revenue optimization challenges in their organizations.

Second Edition: Published 18, May 2021

This updated edition builds upon the success of the first edition by incorporating new developments in the field of pricing and revenue optimization. It continues to serve as an accessible resource for students and managers interested in understanding and applying these concepts.

What’s New in the Second Edition?

  1. Expanded Coverage: Updates to every chapter, including discussions on estimation of price-response functions and machine-learning-based price optimization.
  2. Real-World Examples: New case studies featuring dynamic pricing and revenue management strategies employed by companies such as Amazon, Uber, and Disney, as well as their application in industries like sports, theater, and electric power.
  3. Broader Applications: Current insights into important areas such as revenue management, markdown management, customized pricing, and the behavioral economics of pricing.

“Pricing is not just about numbers; it’s about understanding customer behavior and creating value.” – *Rafi Mohammed

Book Information

Print Length

368 Pages

Language

English

Publisher

Stanford Business Books

Publication Date

August 5, 2005

Dimensions

7 x 1.1 x 10 inches

ISBN-10

0804746982

ISBN-13

978-0804746984

About The Author

About Robert 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 the broad area of predictive analytics and the use of quantitative methods to help businesses make more effective decisions. His recent

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Table Of Contents