- Series Information
- List of Figures
- List of Tables
- List of Boxes
- List of Contributors
- Why Are Prices Set the Way They Are?
- Airline Pricing
- Electric Power Pricing
- Health Care Pricing in the United States: The Case of Hospitals
- Pricing in Restaurants
- Pricing of On-line Display Advertising
- Consumer Credit Pricing
- Wireless Services Pricing in the United States
- For What IT’s Worth: Pricing Internal IT Services
- Television Advertisement Pricing in the United States
- Pricing in the Cruise Line Industry
- Less-than-Truckload Pricing
- Pricing in the North American Protein Industry
- Wine Pricing in the United States
- Pricing and sales practices at the Grand Bazaar of İstanbul
- Price Theory in Economics
- Models of Demand
- Game Theory Models of Pricing
- Behavioral Issues in Pricing Management
- Customized Pricing
- Nonlinear Pricing
- Dynamic List Pricing
- Sales Promotions
- Markdown Management
- Revenue Management
- Auction Pricing
- Services Engineering: Design and Pricing of Service Features
- Pricing in Business-to-Business Contracts: Sharing Risk, Profit, and Information
- Pricing and Inventory Management
- Structuring and Managing an Effective Pricing Organization
- Global Pricing Strategy
- Using Lean Six Sigma to Improve Pricing Execution
- Mastering your Profit Destiny in Business-to-Business Settings
- Current Challenges and Future Prospects for Pricing Management
Abstract and Keywords
Dynamic list pricing (DLP) belongs to the broad field of revenue management (RM), a practice that emerged more than three decades ago in the airline industry, and since then has been expanding into other business areas such as hospitality, car rental, retailing, and financial services. Under DLP, sellers use prices as a mechanism to control demand and maximize revenues; hence, DLP is considered to be a price-based RM strategy. This article surveys the large body of modelling-based research in dynamic pricing. Section 23.2 discusses the foundations of DLP: single-product models with finite and non-replenishable capacity. Section 23.3 is devoted to multiple products generated from a given set of limited resources. Section 23.4 brings in the forecasting process. Section 23.5 surveys models that capture the phenomenon of strategic waiting. Section 23.6 is devoted to other behavioural considerations and their impact on the pricing practice. Section 23.7 concludes and discusses directions for future research.
Yossi Aviv develops and applies operations research models to study problems in supply chain management and revenue management. His current research focuses on dynamic pricing under strategic consumer behavior. Aviv holds several editorial positions, and teaches courses on quantitative decision modeling, operations management, and supply chain management.
Gustavo Vulcano is an Associate Professor at the Leonard N. Stern School of Business, New York University. He obtained his BS and MS in Computer Science at the University of Buenos Aires, Argentina; and his PhD in Decision, Risk and Operations from the Graduate School of Business, Columbia University. His research interests are primarily in revenue management, including modeling and the development of computational algorithms to solve problems within that area.
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