The Theory and Practice of Revenue Management [Paperback]

Revenue management (RM) has emerged as one of the most important new business practices in recent times.

This book is the first comprehensive reference book to be published in the field of RM.

It unifies the field, drawing from industry sources as well as relevant research from disparate disciplines, as well as documenting industry practices and implementation details.

Successful hardcover version published in April 2004.

Simply put this is an outstanding book. It is the first book to fully articulate the various ways operations research may be applied to revenue management problems. As such it is, in my opinion, one of the most important books in applied OR to appear in the last decade. The first Chapter gives one of the most succinct yet satisfying reviews of revenue management I have seen anywhere. This is followed in Chapters 2, 3 and 4 with nice treatments of resource allocation, capacity, and overbooking to complete Part I.

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 andlƒ­