Mission of Revenue Management and Pricing Section
The INFORMS Revenue Management and Pricing (RMP) Section promotes the use of operations research and analytics to study how to better match the supply of a good or service with its demand, often as a process happening over time, i.e., selling the right product to the right customer at the right price at the right time. While pricing and capacity control decisions are emphasized by operators of many traditional industries (e.g., airlines, hotels, and car rentals), recent developments in the sharing economy and in online marketplaces allow the control of a host of additional variables, such as information structure, liquidity, matching mechanism, and terms of trade.
The RMP Section supports innovative research and applications in traditional industries with the purpose of leveraging our understanding of increasingly complex market conditions and promotes the spread of best practices. At the same time, recognizing the new analytics developments, the Section is broadly interested in research and applications that enhance our understanding of how markets can be better designed and operated, and of how market participants interact to determine market outcomes. Our interests encompass a wide range of applications spanning retail analytics, online advertising, commodity markets, transportation-on-demand, and cloud computing, among others, and a mix of approaches including modeling, theory, and empirics, employing tools drawn from game theory, auctions and mechanism design, optimization, stochastic modeling, econometrics, statistics, and behavioral modeling.
To that end, our goals are:
- To advance the development and application of operations research and analytics in the field of Revenue Management and Pricing in both traditional and innovative settings;
- To promote the development and application of Revenue Management and Pricing in new industries;
- To encourage the exchange of information among practitioners, users, and researchers in the area of Revenue Management and Pricing; and more broadly, Marketplace Analytics, and
- To promote high professional standards in the application of Revenue Management and Pricing.