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The Oxford Handbook of Pricing Management (Oxford Handbooks)

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9780198714811: The Oxford Handbook of Pricing Management (Oxford Handbooks)
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The Oxford Handbook of Pricing Management is a comprehensive guide to the theory and practice of pricing across industries, environments, and methodologies. The Handbook illustrates the wide variety of pricing approaches that are used in different industries. It also covers the diverse range of methodologies that are needed to support pricing decisions across these different industries. It includes more than 30 chapters written by pricing leaders from industry, consulting, and academia. It explains how pricing is actually performed in a range of industries, from airlines and internet advertising to electric power and health care. The volume covers the fundamental principles of pricing, such as price theory in economics, models of consumer demand, game theory, and behavioural issues in pricing, as well as specific pricing tactics such as customized pricing, nonlinear pricing, dynamic pricing, sales promotions, markdown management, revenue management, and auction pricing. In addition, there are articles on the key issues involved in structuring and managing a pricing organization, setting a global pricing strategy, and pricing in business-to-business settings.

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About the Author:


Özalp Özer has been a faculty member at Columbia University and Stanford University. His areas of specialization include demand and supply chain management, global production and distribution system design, contract and incentive design, capacity and inventory planning, and pricing management. His articles on these topics have appeared in leading academic journals such as Management Science and Operations Research. National Science Foundation and Fortune 500 companies have supported his research and teaching activities. He is an active consultant to industries such as high technology, automotive. He has developed and commercialized algorithms that optimize market timing, pricing, and inventory replenishment decisions. He has been invited to present his work at conferences and has given lectures at universities such as Harvard Business School and London Business School. He received his Ph.D. and M.S. degrees from Columbia University.

Robert Phillips is Director of the Center for Pricing and Revenue Management at Columbia University. Dr. Phillips has experience in pricing and revenue management in a wide variety of industries including airlines, hotels, rental cars, automotive, air freight, cruise lines, retail, and financial services. He is the former CEO of Talus Solutions and of Decision Focus Incorporated and the author of the widely used textbook, Pricing and Revenue Optimization. Dr. Phillips has served as a lecturer at Stanford University Business School and has published in many journals. He received his Ph.D. from Stanford University in Engineering Economic Systems.

Review:


"This wide ranging book provides many important lessons on effective pricing. It bristles with empirical information, reviewing practices in industries from advertising and airlines to wine and wireless services. It then lays out the analytics underlying effective pricing, examining methodologies such as game theory and behavioral decision, and strategies and techniques, such as auctions, markdowns, and promotions. This book is thoroughly grounded in real world considerations, looking at matters from how to manage an effective pricing organization to how to conduct a global pricing strategy. Learn from this book in all aspects but one. Its price should have been set ten times as high. But then you should still buy it." --Richard Zeckhauser, Frank P. Ramsey Professor of Political Economy, Kennedy School, Harvard University


"As an emerging and explosive field, pricing management research has been approached from multiple disciplines with many industry applications. The strength of this book is that it provides a comprehensive view of all such different disciplinary approaches, and in some cases, cross-disciplinary and integrative works, with an eye of a diverse set of industry application. It is a great reference for any researcher in this field." --Hau Lee, Thoma Professor of Operations, Information and Technology, Stanford Graduate School of Business


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