Revenue Management and Dynamic Pricing

Tuesday, September 10, 2002 - 2:30pm - 3:15pm
Keller 3-180
Andy Boyd (PROS Revenue Management)
Revenue management has been employed with tremendous success in the airline industry to manage ticket prices. Hailed by Bob Austrian of Banc of America Securities as ?one of the most exciting inevitibilities ahead? whose implications for profitability ? cannot be stressed enough,? many industries have adopted or are in the process of adopting revenue management and dynamic pricing. This tutorial presentation will provide an introduction to the practice of revenue management and dynamic pricing while introducing the mathematical concepts that drive the underlying value proposition. Modeling and computational challenges will highlighted.