![]() ![]() Phillips, Director of Pricing Research at Amazon This book is highly recommended for Masters or PhD level courses on the topic and is a necessity for researchers with an interest in the field.” Robert L. It is mathematically rigorous but accessible to students at the advanced undergraduate or graduate levels with a rich set of exercises at the end of each chapter. The comprehensive treatment of choice models in each application is particularly welcome. ![]() It covers traditional revenue management as well as assortment optimization and dynamic pricing. “This book is an important and timely addition to the pricing analytics literature by two authors who have made major contributions to the field. Pounds Professor of Operations Research and Operations Management at the Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts. I highly recommend it." Professor Georgia Perakis, the William F. It provides an in-depth treatment covering recent state of the art topics in an interesting and innovative way. The book can be used for different audiences that range from advanced undergraduate students to masters and PhD students. ![]() It fills an important gap as it covers not only traditional revenue management topics also new and important topics such as revenue management under customer choice as well as pricing under competition and online learning. Stanley Johnson Professor, California Institute of Technology and Chief Economist and Corp VP, Microsoft.“The book by Gallego and Topaloglu provides a fresh, up-to-date and in depth treatment of revenue management and pricing. "This book is a must-read for students and practitioners of pricing modeling, offering a clear guide on where and how to apply which pricing model framework.“There is no strategic investment that has a higher return than investing in good pricing, and the text by Gallego and Topaloghu provides the best technical treatment of pricing strategy and tactics available.” Preston McAfee, the J. Describing new developments in e-commerce, ride sharing and reinforced learning, this is a must-read book for students and professionals in the field." "Benefiting from Bob's rich industry experience and superb writing skills, this book exposes the reader to a host of real-world applications that blend modelling, optimization, and machine learning in a gentle and accessible way. Guillermo Gallego, Crown Worldwide Professor of Engineering: Covering a wide range of industries that go from revenue management classics such as hotels and airlines all the way to modern e-commerce and ride-sharing platforms, this book is a must have for every pricing manager." This unique book translates state-of-the-art academic research into practical managerial lessons. "Bob Phillips is one of the world's experts on quantitative pricing. In addition, the book provides current coverage of important applications such as revenue management, markdown management, customized pricing, and the behavioral economics of pricing. 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. With updates to every chapter, this second edition covers topics such as estimation of price-response functions and machine-learning-based price optimization. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. 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. 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. 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. This book offers the first introduction to the concepts, theories, and applications of pricing and revenue optimization. ![]()
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