Revenue management (RM) is one of the most successful applications in Operations Research. The RM has grown from its application with a handful of major airlines to its status today as a mainstream business practice with a growing list of industry users from Walt Disney Resorts to National Car Rental and a supporting industry of software and consulting firms. Over this same time period, academic and industry research on RM methodology has also grown rapidly. While the number of published papers on RM has increased in dramatic measures, there is still no book that comprehensively covers the field of RM. Such a book is a pressing need because: The Theory and Practice of Revenue Management is a book that will meet these needs. It 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. Nevert
"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
Series: International Series in Operations Research & Management Science
Number Of Pages: 713
Published: 17th June 2004
Publisher: Springer-Verlag New York Inc.
Country of Publication: US
Dimensions (cm): 23.5 x 15.5
Weight (kg): 2.71