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The Theory and Practice of Revenue Management

  • Book
  • © 2004

Overview

  • Revenue management (RM) has emerged as one of the most important new business practices in recent times. This book is the first comprehensive reference book to be published in the field of RM
  • Unifies the field, drawing from industry sources as well as relevant research from disparate disciplines, as well as documenting industry practices and implementation details

Part of the book series: International Series in Operations Research & Management Science (ISOR, volume 68)

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About this book

The Theory and Practice of Revenue Management is a book that comprehensively covers theory and practice of the entire field, including both quantity and price-based RM, as well as significant coverage of supporting topics such as forecasting and economics. The authors believe such a comprehensive approach is necessary to fully understand the subject. A central objective of the book is to unify the various forms of RM and to link them closely to each other and to the supporting fields of statistics and economics. Nevertheless, the topics and coverage do reflect choices about what is important to understand RM. Hence, the book’s purpose is to provide a comprehensive, accessible synthesis of the state of the art in Revenue Management.

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Table of contents (11 chapters)

  1. Introduction

  2. Quantity-Based RM

  3. Price-based RM

  4. Common Elements

Reviews

"Simply put this is an outstanding book. It is the first book to fully articulate the various ways operations research may be applied to revenue management problems. As such it is, in my opinion, one of the most important books in applied OR to appear in the last decade. The first Chapter gives one of the most succinct yet satisfying reviews of revenue management I have seen anywhere. This is followed in Chapters 2, 3 and 4 with nice treatments of resource allocation, capacity, and overbooking to complete Part I.

Part II covers, in Chapters 5 and 6, both dynamic pricing and auctions. If there is a fault with the book, it is the fact that the role of variational methods and dynamic game theory in pricing is not stressed. However, that material is rather advanced and in its infancy with regard to revenue management; so excluding it makes a great deal of editorial sense.

Part III could be titled "Applications", and it has illustrative examples for almost every type of decision environment in which revenue management has been studied and/or practiced. In closing I reiterate that this is an outstanding book and a must have reference for anyone doing research on revenue management."

Terry L. Friesz, Harold & Inge Marcus Chaired Prof.

Pennsylvania State University

To be published in NETWORKS AND SPATIAL ECONOMICS, Vol. 4:4 in December 2004

Authors and Affiliations

  • Department of Economics and Business, Universitat Pompeu Fabra, Barcelona

    Kalyan T. Talluri

  • Graduate School of Business, Columbia University, New York

    Garrett J. Ryzin

Bibliographic Information

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