In this Issue:
Message from the Section Chair
I want to start by thanking the RMP community for allowing me to serve as the RMP Section Chair for the upcoming year of 2020.
I would also like to thank our outgoing officers and board members, Dan Zhang, Ozge Sahin, and Kalyan Talluri, for their service to the RMP Section. I want to specially thank Ilan Lobel, the past chair of the section, for his tremendous efforts in serving our community. I also extend my welcome to our new section officers and board members. Rene Caldentey (Chicago) was elected as our section’s new vice-chair and chair-elect, Jun Li (Michigan) as our new treasurer, and Daniela Saban (Stanford) as our newest board member, joining Stefanus Jasin. I also extend our appreciation to Sami Najafi, Yao Cui, and Sophia Huang for continuing to serve the RMP Section as the webmaster, newsletter editor, and social media coordinator, respectively.
The membership of the section has gone up to a record high of 482 by October 11, 2019. Thanks to the previous board’s efforts! The free student membership that started in 2019 helped, and we will continue doing that, given the healthy financial status of the section (over $88,000 in our account). Together with the current board, I will continue to work on expanding the section in the industry and overseas.
Remembering Dr. Jeff McGill.
We had a celebration of life for Professor Emeritus Dr. Jeff McGill (1950-2018) during the session business meeting at INFORMS 2019. Jeff was one of the founders of our field and maintained an active research program with a focus on revenue management and dynamic pricing in transportation and other service industries. In 2008, Jeff was awarded our section’s Research Historical Prize, and in 2013, he won the RMP Practice Prize. In memory of Jeff, with the help of Yuri Levin and Anton Ovchinnikov and other colleagues at Queen’s, Queen’s University is endowing the RMP student paper prize starting from this year.
2019 fall and summer conferences.
Thanks to all who have worked on putting together RMP Section events!
The INFORMS Annual Meeting 2019 was held in October in Seattle. RMP section had about 70 sessions and 330 talks, which made a new record. The RMP Cluster was put together by Maxime Cohen (McGill), Daniela Saban (Stanford), and Arnoud den Boer (Amsterdam), as cluster chairs.
The RMP Section Conference 2019 took place in June at Stanford University. The conference was highly successful with 160 papers submitted, 102 papers presented, 16 papers highlighted as spotlight papers, and 218 attendees. Thanks to the organizers: Kostas Bimpikis, Yoni Gur, Dan Iancu, and Daniela Saban. The section conference was joint with the Marketplace Innovation Workshop, which was organized by Itai Ashlagi, Ilan Lobel, Ramesh Johari, Costis Maglaras, and Gabriel Weintraub. The workshop has been growing every year. This year’s gathering features 10 plenary talks and additionally, 32 presentations over 2 parallel tracks, which drew a large crowd of attendees from both the academic and industry.
The INFORMS International 2019 was held in June at Cancun, Mexico. A big thank you to the RMP cluster chairs, Jacob Feldman (WUSTL), and Joline Uichanco (Michigan) for organizing the cluster!
RMP 2022 to Imperial.
I am happy to announce that Imperial College London won the bid for hosting the RMP 2022! More details will follow.
Please feel free to contact me if you have any questions or comments.
Rotman School of Management, University of Toronto
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The Sixth Marketplace Innovation Workshop (MIW) will be held at Columbia University on June 2 and 3. It will begin on the morning of June 2 and continue through the early afternoon of June 3. The organizers are Itai Ashlagi, Omar Besbes, Ilan Lobel, and Gabriel Weintraub.
The RMP 2020 conference will take place at Johns Hopkins University in Baltimore on June 4 and 5. The organizers are Goker Aydin, Ozge Sahin, and Ruxian Wang. To encourage the dialogue between academicians and practitioners, the organizers plan to dedicate time to practice talks.
The RMP 2021 conference will be held at University of Chicago on June 17 and 18. The organizers are Rene Caldentey, Ozan Candogan, and Rad Niazadeh.
The RMP 2022 conference will be held at Imperial College London in London, United Kingdom.
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Winners of 2019 RMP Awards
We announced the following RMP awards during the INFORMS 2019 conference. Congratulations to all the winners!
2019 RMP Section Prize
- Winner: Paat Rusmevichientong (USC):
- In recognition for his seminal research to the science and practice of Revenue Management & Pricing in the areas of assortment optimization and consumer choice modeling.
- “Paat’s work is rigorous, deep and innovative, and has broaden our understanding on a number of fundamental issues ranging from the computational complexity of assortment optimization problems, to the challenges of developing efficient and implementable algorithms to solve them, to the needs of expanding the boundaries of traditional consumer choice theory to address its empirical limitations.”
- “Real-time optimization of personalized assortments” (MS 2014)
- “The limit of rationality in choice modeling: Formulation, computation, and implications” (MS 2019)
- Rene Caldentey (Chicago) – Chair
- Victor Araman (UAB)
- Huseyin Topaloglu (Cornell)
- Gabriel Weintraub (Stanford)
2019 RMP Practice Prize
- Winner: “Customer Choice Models versus Machine Learning: Finding Optimal Product Displays on Alibaba” by Jacob Feldman (WUSTL), Dennis Zhang (WUSTL), Xiaofei Liu (Alibaba) and Nannan Zhang (Alibaba)
- Finalist: “Pricing Analytics for Rotable Spare Parts” by Omar Besbes (Columbia), Adam Elmachtoub (Columbia) and Yunjie Sun (Columbia)
- Finalist: “Demand Learning and Dynamic Pricing for Varying Assortments: Algorithm Development and Implementation at Zenrez” by Kris Ferreira (Harvard), Emily Mower (Harvard), Matt Capizzi (Zenrez) and Arthur Hong (Zenrez)
- Guillermo Gallego (HKUST) – Chair
- Jose Luis Beltran (Hitachi)
- Kalyan Talluri (Imperial)
- Huseyin Topaloglu (Cornell)
2019 (Inaugural) Jeff McGill RMP Best Student Paper Prize
- First prize: “Dynamic Pricing of Relocating Resources in Large Networks” by Chen Chen (Duke)
- Second prize: “Decision Forest: A Nonparametric Approach to Modeling Irrational Choice” by Yi-Chun Chen (UCLA)
- Second prize: “Shapley Meets Uniform: An Axiomatic Framework for Attribution in Online Advertising” by Raghav Singal (Columbia)
- Finalist: “The Value of Price Discrimination in Large Random Networks” by Jiali Huang (Minnesota)
- Finalist: “Sequential Procurement with Contractual and Experimental Learning” by Gregory Macnamara (Stanford)
- Finalist: “Matching in Online Marketplaces when Talent is Difficult to Discern” by Jiding Zhang (Upenn)
- Ming Hu (Toronto) – Chair
- Kostas Bimpikis (Stanford)
- Stefanus Jasin (Michigan)
To become a member of the Revenue Management and Pricing Section, it is the easiest (but not necessary) just to add it to the regular INFORMS membership. Those who’d rather focus exclusively on the Section’s activities can become members only of the Section by calling 1-800-446-3676. For more information click here
Benefits of Membership
As a member of the Section, you will receive benefits such as our newsletter, registration fee discount to annual section conference, 50% off the subscription rate to the Journal of Revenue and Pricing Management, and listserver announcements. For more information click here
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