Revenue Management and Dynamic Pricing (RMDP) is a multidisciplinary research area that combines operations research, stochastic optimization, economics, marketing and data analytics to solve problems related to the management and pricing of scarce and perishable resources. Revenue Management has had a transforming impact on the transportation (airlines, railway, rental car), hospitality (hotels, cruise lines, casinos) and retail (apparel, consumer goods) industries. However, the rise of online marketplaces and Internet exchanges is rapidly expanding the scope of RMDP to a broad range of applications including media and Internet advertising, sharing economy markets, labor and procurement platforms, healthcare exchanges, to name a few.
The RMMD department is committed to publishing and disseminating the best articles that provide original theoretical results and advance the state-of-the-art of the models and methods used to solve real problems. We particularly welcome papers that explore emerging issues in the field and the connection between RMDP and marketplace design.
The Revenue Management and Market Analytics area considers articles at the forefront of advancing the theory and practice of pricing and revenue optimization, and design and operation of market platforms.
Rapid changes in information, communication, and computing technology that are altering all aspects of our economic interactions. Not only do these advances enable us to collect ever more detailed data on customer and firm behavior, but they also enable much finer grained optimization of all the determinants of market outcomes. As a consequence, market operators or platforms can control a host of variables such as pricing, liquidity, search and matching, information revelation, terms of trade, and transaction fees. Analogously, market participants have far greater control over bidding, pricing, assortment optimization, and revenue optimization. These forces are being borne out in the rise of online marketplaces across a wide range of industries: more than ever before, we are able to engineer the platforms governing transactions among market participants.
These forces are evident in the spectrum of academic research pushing beyond traditional models of pricing and revenue management: more sophisticated models of consumer choice and behavioral biases; real-time pricing decisions (e.g., as in ride-sharing and ad auctions); fine-grained, dynamic search and matching algorithms; novel rating and review systems; dynamic bundling (and unbundling) of products; personalized assortments and discounts; etc.
We seek high-impact papers with deep roots in real problems, with a slight preference for (but not limited to) significant methodological or analytical contributions. We also welcome papers that excel in their modeling and/or computational approach to solving a relevant practical problem, supported by a well-documented numerical study, ideally based on real data.
Associate Editors: Omar Besbes, Kostas Bimpikis, Rene Caldentey, William Cooper, Jose Correa, Vivek Farias, Vineet Goyal, Ming Hu, Nicole Immorlica, Srikanth Jagabathula, Yash Kanoria, Ilan Lobel, Paat Rusmevichientong, and Huseyin Topaloglu.
The Revenue Management Department welcomes research that uses operations research, econometrics, and behavioral and analytics tools to study how to better match the supply of a good or service with its demand over time. The scope of the department spans traditional areas of pricing and revenue optimization, such as transportation and hospitality, and emerging applications in retail analytics, healthcare, web advertising, sharing economy, and online matching markets, etc. Recent developments in the field allow finer control of many variables besides pricing and capacity; examples include information structure, liquidity, matching mechanism, etc.
Submitted papers are expected to disseminate innovative research and application in pricing and revenue optimization. They can be (but are not limited to) i) novel applications of revenue management in traditional and emerging application domains, ii) economic models, iii) methodological contribution to the solutions of existing problems, and iv) behavioral and empirical studies that validate existing theory or examine market phenomena. We encourage submissions that explore the interplay between revenue management and manufacturing, service operations, and supply chain management. Papers need to be well written, make a significant contribution to the field, be methodologically sound, and be of practical relevance.
Senior Editors: Goker Aydin, Rene Caldentey, Stefanus Jasin, Sumit Kunnumkal, Ilan Lobel, Georgia Perakis, Robert L. Phillips, Paat Rusmevichientong, Kalyan Talluri, Huseyin Topaloglu, Zizhuo Wang