Revenue management. Foundations and mathematical methods (Q930337)

Revenue management is a rather new discipline in business economics which is closely related to the fields of marketing, operation research and computer science. The primary aim of this research direction consists of generating sales forecasts based on a revenue oriented concept of sales processes. Its origin stems from the aviation industry, but today other branches in the service sector apply revenue management as well. And as it is common practice, scientific results of a new research agenda are first published in relevant journals prior to the first publication as a textbook. And this is what the book of Klein and Steinhardt is all about. The authors start with an introduction of revenue management, followed by four special issues of the discipline, namely, price differentiation, control and managing of capacities, control and managing of overbooking, and, finally, dynamic pricing. For each topic the basic issues are presented first, followed by more detailed discussions of advanced issues. For example, in the chapter about capacity and capacity control the authors discuss relevant issues in the case of single flights as well as control in the case of an aviation company's flight net. And mainly the same structure also applies to the chapter about controlling and managing of overbooking in the airline industry. In the final chapter on dynamic pricing Klein and Steinhardt discuss the cases of dynamic pricing in deterministic models as well as in stochastic models. Each chapter contains some exercises. The book is written in German.