Pricing and Revenue Optimization: Second Edition

This book provides an introduction to the concepts, theories, and applications of pricing and revenue optimization, making it accessible to MBA students, MS students, and advanced undergraduates. It covers topics such as estimation of price-response functions, machine-learning-based price optimization, dynamic pricing, and revenue management, with updates to every chapter and practical approaches for managers.

Format: Hardback
Length: 472 pages
Publication date: 18 May 2021
Publisher: Stanford University Press

This comprehensive book provides a thorough introduction to the concepts, theories, and applications of pricing and revenue optimization. It explores the historical success of yield management in the commercial airline industry, as well as the more recent advancements in markdown management and dynamic pricing across various industries. However, due to the complexity of mathematical techniques involved, pricing and revenue optimization has often remained inaccessible to students and managers alike.

To address this gap, the author has developed a practical and accessible approach, drawing from their experience as an instructor at Columbia and Stanford Business Schools. The book presents the fundamental principles of pricing and revenue optimization in a format that is suitable for MBA students, MS students, and advanced undergraduates. It offers a comprehensive coverage of topics, including estimation of price-response functions, machine-learning-based price optimization, and practical applications in industries such as sports, theater, and electric power.

The second edition of this book has been updated to include the latest developments and trends in the field. It includes discussions on estimation of price-response functions, machine-learning-based price optimization, and new applications of dynamic pricing and revenue management by companies like Amazon, Uber, and Disney. Additionally, the book provides current coverage of important applications such as revenue management, markdown management, customized pricing, and the behavioral economics of pricing.

By providing a comprehensive and accessible guide to pricing and revenue optimization, this book empowers students, managers, and professionals to make informed decisions and optimize their pricing strategies for maximum profitability. Whether you are a business student seeking to enhance your understanding of pricing principles or a manager looking to implement effective revenue optimization techniques, this book is an invaluable resource.

Weight: 1070g
Dimension: 186 x 263 x 33 (mm)
ISBN-13: 9781503610002
Edition number: 2 ed