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

Steffen Christ

ISBN 10: 383492749X / ISBN 13: 9783834927491

Published by Gabler Verlag, 2011

About this Item

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. Num Pages: 351 pages, 116 black & white illustrations, 46 black & white tables, biography. BIC Classification: KJS. Category: (P) Professional & Vocational. Dimension: 210 x 148 x 22. Weight in Grams: 498. . 2011. 2011th Edition. Paperback. . . . .

Seller Inventory # V9783834927491

Bibliographic Details

• Title: Operationalizing Dynamic Pricing Models: Bayesian Demand Forecasting and Customer Choice Modeling for Low Cost Carriers
• Publisher: Gabler Verlag
• Publication Date: 2011
• Language: English
• ISBN 10: 383492749X
• ISBN 13: 9783834927491
• Binding: Soft cover
• Condition: New

About this title

Synopsis

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.