Operationalizing Dynamic Pricing Models

Bayesian Demand Forecasting and Customer Choice Modeling for Low Cost Carriers

  • Authors
  • Steffen Christ

Table of contents

  1. Front Matter
    Pages I-XXVII
  2. Dynamic Pricing in the Airline Industry

    1. Front Matter
      Pages 1-1
    2. Steffen Christ
      Pages 3-13
    3. Steffen Christ
      Pages 15-21
    4. Steffen Christ
      Pages 23-62
  3. Forecasting Latent Demand

    1. Front Matter
      Pages 63-63
    2. Steffen Christ
      Pages 67-95
    3. Steffen Christ
      Pages 97-130
    4. Steffen Christ
      Pages 131-157
    5. Steffen Christ
      Pages 159-187
    6. Steffen Christ
      Pages 189-197
  4. Estimating Price Sensitivity

    1. Front Matter
      Pages 199-199
    2. Steffen Christ
      Pages 203-231
    3. Steffen Christ
      Pages 233-252
    4. Steffen Christ
      Pages 303-318
    5. Steffen Christ
      Pages 319-326
  5. Back Matter
    Pages 327-351

About this book

Introduction

Dynamic Pricing of services has become the norm for many young service industries – especially in today’s volatile markets. Steffen Christ shows how theoretic optimization models can be operationalized by employing self-learning strategies to construct relevant input variables, such as latent demand and customer price sensitivity. He proves that the development of the necessary forecasting models is indeed possible, i.e., through the usage of real-time data of online sales channels.

Keywords

Airlines Fare Optimization Marketing Pricing Revenue Management

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-8349-6184-6
  • Copyright Information Gabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden 2011
  • Publisher Name Gabler
  • eBook Packages Business and Economics
  • Print ISBN 978-3-8349-2749-1
  • Online ISBN 978-3-8349-6184-6
  • About this book
Industry Sectors
Pharma
Automotive
Chemical Manufacturing
Biotechnology
Telecommunications
Consumer Packaged Goods