Pricing and Revenue Optimization

By. Robert Phillips 05th Aug 2005

Book Discription

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. 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 courses taught by the author at Columbia and Stanford Business Schools as well as through his experience as founder of Nomis Solutions, 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.

Second Edition: Published 18, May 2021 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.

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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