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Author | : Robert Phillips |
Publisher | : Stanford University Press |
Total Pages | : 470 |
Release | : 2005-08-05 |
Genre | : Business & Economics |
ISBN | : 0804781648 |
Download Pricing and Revenue Optimization Book in PDF, ePub and Kindle
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 | : Steffen Christ |
Publisher | : Springer Science & Business Media |
Total Pages | : 363 |
Release | : 2011-04-02 |
Genre | : Business & Economics |
ISBN | : 3834961841 |
Download Operationalizing Dynamic Pricing Models Book in PDF, ePub and Kindle
Steffen Christ shows how theoretic optimization models can be operationalized by employing self-learning strategies to construct relevant input variables, such as latent demand and customer price sensitivity.
Author | : David Prakash |
Publisher | : BoD – Books on Demand |
Total Pages | : 155 |
Release | : 2022-08-19 |
Genre | : Business & Economics |
ISBN | : 3756863514 |
Download Behavioral Consequences of Dynamic Pricing Book in PDF, ePub and Kindle
Digital technologies are driving the application of dynamic pricing. Today, this pricing strategy is used not only for perishable products such as flights or hotel rooms, but for almost any product or service category. With dynamic pricing, retailers frequently adjust their prices over time to respond to factors such as demand, their supply and that of competitors, or the time of sale. Additionally, dynamic pricing allows retailers to take advantage of a large share of consumers' willingness to pay while avoiding losses from unsold products. Ultimately, this can lead to an increase in revenue and profit. However, the application of dynamic pricing comes with great challenges. In addition to the technological implementation, companies have to take into account that dynamic pricing can cause complex and unintended behavioral consequences on the consumer side. The key objective of this dissertation is to provide a deeper understanding of the impact of dynamic pricing on consumer behavior. To this end, this dissertation presents insights from four perspectives. First, how reference prices as a critical component in purchase decisions are operationalized. Second, how customers search for products priced dynamically, differentiated by business and private customers, as well as by different devices used for the search. Third, whether and how dynamic pricing influences the impact of internal reference prices on purchase decisions. Finally, this dissertation demonstrates that consumers perceive price changes as personalized in different purchase contexts, leading to reduced perceptions of fairness and undesirable behavioral consequences.
Author | : Alex Gershkov |
Publisher | : MIT Press |
Total Pages | : 209 |
Release | : 2024-06-11 |
Genre | : Business & Economics |
ISBN | : 0262552442 |
Download Dynamic Allocation and Pricing Book in PDF, ePub and Kindle
A new approach to dynamic allocation and pricing that blends dynamic paradigms from the operations research and management science literature with classical mechanism design methods. Dynamic allocation and pricing problems occur in numerous frameworks, including the pricing of seasonal goods in retail, the allocation of a fixed inventory in a given period of time, and the assignment of personnel to incoming tasks. Although most of these problems deal with issues treated in the mechanism design literature, the modern revenue management (RM) literature focuses instead on analyzing properties of restricted classes of allocation and pricing schemes. In this book, Alex Gershkov and Benny Moldovanu propose an approach to optimal allocations and prices based on the theory of mechanism design, adapted to dynamic settings. Drawing on their own recent work on the topic, the authors describe a modern theory of RM that blends the elegant dynamic models from the operations research (OR), management science, and computer science literatures with techniques from the classical mechanism design literature. Illustrating this blending of approaches, they start with well-known complete information, nonstrategic dynamic models that yield elegant explicit solutions. They then add strategic agents that are privately informed and then examine the consequences of these changes on the optimization problem of the designer. Their sequential modeling of both nonstrategic and strategic logic allows a clear picture of the delicate interplay between dynamic trade-offs and strategic incentives. Topics include the sequential assignment of heterogeneous objects, dynamic revenue optimization with heterogeneous objects, revenue maximization in the stochastic and dynamic knapsack model, the interaction between learning about demand and dynamic efficiency, and dynamic models with long-lived, strategic agents.
Author | : Michael Schwind |
Publisher | : Springer Science & Business Media |
Total Pages | : 305 |
Release | : 2007-04-24 |
Genre | : Mathematics |
ISBN | : 3540680039 |
Download Dynamic Pricing and Automated Resource Allocation for Complex Information Services Book in PDF, ePub and Kindle
This book develops allocation mechanisms that aim to ensure an efficient resource allocation in modern IT-services. Recent methods of artificial intelligence, such as neural networks and reinforcement learning, and nature-oriented optimization methods, such as genetic algorithms and simulated annealing, are advanced and applied to allocation processes in distributed IT-infrastructures, or grid systems.
Author | : |
Publisher | : GRIN Verlag |
Total Pages | : 147 |
Release | : 2018-09-06 |
Genre | : Business & Economics |
ISBN | : 3960953283 |
Download Dynamic Pricing in Online Business. What Pricing Strategy Should Be Used in Digital Business? Book in PDF, ePub and Kindle
40% of German companies vary their prices dynamically on the internet. This strategic tool helps them to exploit the consumer's maximum willingness to pay. Studies confirm that these companies are able to reach higher profits through dynamic pricing. But the federal ministry of consumer protection sees the price transparency for consumers at risk. This publication shows how new and existing customers react to dynamic pricing techniques. It examines if regular customers have a different price fairness perception than new customers. Customers often react with dissatisfaction and complaining when they notice a disadvantage due to dynamic pricing. Their dissatisfaction can have a long-term impact on the buyer-seller relationship as well as the company's reputation and profits. Therefore, price fairness perception is crucial for dynamic pricing strategies. Keywords: - Dynamic Pricing; - Status-based Dynamic Pricing; - Consumer Dissatisfaction; - Price Transparency; - New Customers; - Regular Customers
Author | : Sahaj Sharda |
Publisher | : |
Total Pages | : |
Release | : 2018-04-18 |
Genre | : |
ISBN | : 9781641370806 |
Download The Extinction of the Price Tag Book in PDF, ePub and Kindle
Author | : Kenneth J. Singleton |
Publisher | : Princeton University Press |
Total Pages | : 497 |
Release | : 2009-12-13 |
Genre | : Business & Economics |
ISBN | : 1400829232 |
Download Empirical Dynamic Asset Pricing Book in PDF, ePub and Kindle
Written by one of the leading experts in the field, this book focuses on the interplay between model specification, data collection, and econometric testing of dynamic asset pricing models. The first several chapters provide an in-depth treatment of the econometric methods used in analyzing financial time-series models. The remainder explores the goodness-of-fit of preference-based and no-arbitrage models of equity returns and the term structure of interest rates; equity and fixed-income derivatives prices; and the prices of defaultable securities. Singleton addresses the restrictions on the joint distributions of asset returns and other economic variables implied by dynamic asset pricing models, as well as the interplay between model formulation and the choice of econometric estimation strategy. For each pricing problem, he provides a comprehensive overview of the empirical evidence on goodness-of-fit, with tables and graphs that facilitate critical assessment of the current state of the relevant literatures. As an added feature, Singleton includes throughout the book interesting tidbits of new research. These range from empirical results (not reported elsewhere, or updated from Singleton's previous papers) to new observations about model specification and new econometric methods for testing models. Clear and comprehensive, the book will appeal to researchers at financial institutions as well as advanced students of economics and finance, mathematics, and science.
Author | : Kunal Miind |
Publisher | : BAKER & MCGILL |
Total Pages | : 50 |
Release | : 2021-01-05 |
Genre | : Business & Economics |
ISBN | : |
Download PRICE INTELLIGENCE Book in PDF, ePub and Kindle
In "Pricing Intelligence: How to Use Data to Optimize Your Pricing Strategy for Business Leaders," entrepreneur and technology expert, Kunal Miind explores how businesses can use data to optimize their pricing strategies. This book covers everything from the power of price intelligence, understanding customers, and competitive pricing analysis, to dynamic pricing strategies and best practices for pricing strategy optimization. Written for business leaders looking to stay competitive, this comprehensive guide is a must-read for anyone looking to make better pricing decisions. Whether you're a small business owner or a corporate executive, this book is a must-read for anyone looking to make better pricing decisions and stay competitive in today's rapidly changing business landscape. Published by BAKER & MCGILL (https://bakermcgill.com.au)
Author | : Tudor Bodea |
Publisher | : Business Expert Press |
Total Pages | : 156 |
Release | : 2012-01-18 |
Genre | : Business & Economics |
ISBN | : 1606492586 |
Download Pricing Book in PDF, ePub and Kindle
Pricing analytics uses historical sales data with mathematical optimization to set and update prices offered through various channels in order to maximize profit. With this outstanding contribution to this subject, you will learn just how to identify and exploit pricing opportunities in different business contexts. Each chapter looks at pricing from an economist's viewpoint beginning with the basic concept of pricing analytics and what type of data are needed to use this powerful science; the common assumptions regarding the customer population's willingness- to-pay are discussed along with the price-response functions that result from these assumptions; examples from several industries and organizations; dynamic pricing, with a special emphasis on the most common application--markdown pricing; the new field of customized pricing analytics, where a firm responds to a request-for-bids or request-for-proposals with a customized price response; and the relevant aspects of behavioral science to pricing. Additional examples include the asymmetry of joy/pain that customers feel in response to price decreases/increases.