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

by Steffen Christ

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

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Year of publication:	2011
Authors:	Christ, Steffen
Publisher:	Wiesbaden : Gabler Verlag / Springer Fachmedien Wiesbaden GmbH, Wiesbaden
Subject:	Fluggesellschaft \| Airline \| Niedrigpreisstrategie \| Low-cost strategy \| Konsumentenverhalten \| Consumer behaviour \| Preismanagement \| Pricing strategy \| Dynamische Optimierung \| Dynamic programming \| Bayes-Statistik \| Bayesian inference \| Theorie \| Theory \| Billigflieger \| Preispolitik \| Preismodell \| Nachfrage \| Prognose \| Lineares Regressionsmodell \| Kaufentscheidung \| Logit-Modell \| Preisbildung \| Luft- und Raumfahrtindustrie
Description of contents:	Table of Contents [external.dandelon.com] ; Description [swbplus.bsz-bw.de]