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An Introduction to Revenue Management for the Hospitality Industry by Kimberly A. Tranter |
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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
Product Description
The Theory and Practice of Revenue Management is a book that 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. Nevertheless, the topics and coverage do reflect choices about what is important to understand RM. Hence, the book’s purpose is to provide a comprehensive, accessible synthesis of the state of the art in Revenue Management.
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