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Operationalizing Dynamic Pricing Models

Bayesian Demand Forecasting and Customer Choice Modeling for Low Cost Carriers

  • Book
  • © 2011

Overview

Authors:
  1. Steffen Christ
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Table of contents (13 chapters)

  1. Front Matter

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

    1. Front Matter

      Pages 1-1
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    2. Introduction

      • Steffen Christ
      Pages 3-13

    3. Motivation and Structure

      • Steffen Christ
      Pages 15-21

    4. Dynamic Pricing

      • Steffen Christ
      Pages 23-62

  3. Forecasting Latent Demand

    1. Front Matter

      Pages 63-63
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    2. Self-Learning Linear Models

      • Steffen Christ
      Pages 67-95

    3. Demand in Low Cost Markets

      • Steffen Christ
      Pages 97-130

    4. The Demand Forecasting Model

      • Steffen Christ
      Pages 131-157

    5. Computational Results and Evaluation

      • Steffen Christ
      Pages 159-187

    6. Summary and Outlook

      • Steffen Christ
      Pages 189-197

  4. Estimating Price Sensitivity

    1. Front Matter

      Pages 199-199
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    2. Discrete Customer Choice Analysis

      • Steffen Christ
      Pages 203-231

    3. Choice Situation in Low-Cost Markets

      • Steffen Christ
      Pages 233-252

    4. Multinomial Logit Model for Low-Cost Travel Choice

      • Steffen Christ
      Pages 253-301

    5. Computational Results and Evaluation

      • Steffen Christ
      Pages 303-318

    6. Summary and Outlook

      • Steffen Christ
      Pages 319-326

  5. Back Matter

    Pages 327-351
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Keywords

About this book

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.

About the author

Dr. Steffen Christ wrote his dissertation at the Institute of Statistics and Mathematical Economics of Prof. Dr. Robert Klein at the University of Augsburg.

Bibliographic Information

  • Book Title: Operationalizing Dynamic Pricing Models

  • Book Subtitle: Bayesian Demand Forecasting and Customer Choice Modeling for Low Cost Carriers

  • Authors: Steffen Christ

  • DOI: https://doi.org/10.1007/978-3-8349-6184-6

  • Publisher: Gabler Verlag Wiesbaden

  • eBook Packages: Business and Economics, Business and Management (R0)

  • Copyright Information: Gabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden 2011

  • Softcover ISBN: 978-3-8349-2749-1Published: 13 January 2011

  • eBook ISBN: 978-3-8349-6184-6Published: 02 April 2011

  • Edition Number: 1

  • Number of Pages: XXVII, 351

  • Number of Illustrations: 116 b/w illustrations

  • Topics: Marketing, Operations Research/Decision Theory

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