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Operationalizing Dynamic Pricing Models Bayesian Demand Forecasting and Customer Choice Modeling for Low Cost Carriers

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...

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Bibliographic Details
Main Author: Christ, Steffen
Format: eBook
Language:English
Published: Wiesbaden Gabler Verlag 2011, 2011
Edition:1st ed. 2011
Subjects:
Operations Research
Operations Research/decision Theory
Marketing
Decision Making
Online Access:
Collection: Springer eBooks 2005- - Collection details see MPG.ReNa
Description
Summary: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
Physical Description:XXVII, 351 p. 116 illus online resource
ISBN:9783834961846

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