Risk in Revenue Management and Dynamic Pricing

Yuri Levin
Yuri Levin
[email protected]
School of Business, Queen's University, Kingston, Ontario, Canada K7L 3N6
Search for more papers by this author
,
Jeff McGill
Jeff McGill
[email protected]
School of Business, Queen's University, Kingston, Ontario, Canada K7L 3N6
Search for more papers by this author
,
Mikhail Nediak
Mikhail Nediak
[email protected]
School of Business, Queen's University, Kingston, Ontario, Canada K7L 3N6
Search for more papers by this author

Yuri Levin

[email protected]

School of Business, Queen's University, Kingston, Ontario, Canada K7L 3N6

Search for more papers by this author

Jeff McGill

[email protected]

School of Business, Queen's University, Kingston, Ontario, Canada K7L 3N6

Search for more papers by this author

Mikhail Nediak

[email protected]

School of Business, Queen's University, Kingston, Ontario, Canada K7L 3N6

Search for more papers by this author

Published Online:3 Dec 2007https://doi.org/10.1287/opre.1070.0438

Supplemental Material

opre.1070.0438-sm-ec.pdf (73 KB)

Cited by
- Assortment planning under spectral risk measures
  European Journal of Operational Research, Vol. 26
- Constrained Pricing in Logit-Based Revenue Management
  Qian Shao,
  Tien Mai,
  Shih-Fen Cheng
  20 February 2026 | INFORMS Journal on Computing, Vol. 0, No. 0
- Pricing Experimental Design: Causal Effect, Expected Revenue and Tail Risk
  David Simchi-Levi,
  Chonghuan Wang
  28 May 2025 | Management Science, Vol. 72, No. 2
- Bi-objective assortment optimization under a ranking-based choice model: formulation and solution approach using NSGA-II
  2 March 2025 | Journal of Revenue and Pricing Management, Vol. 24, No. 6
- Mean-variance optimization in finite horizon Markov decision processes and its application to revenue management
  European Journal of Operational Research, Vol. 325, No. 3
- Dynamische und individuelle Preise aus Unternehmens- und Verbrauchersicht
  13 March 2025
- A Stochastic Dominance Approach to Dynamic Pricing Problem
  IFAC-PapersOnLine, Vol. 59, No. 10
- Technical Note—Risk Sensitivity and Firm Power: Price Competition with Mean2-Variance Profit Objective Under Multinomial Logit Demand
  Hongmin Li,
  Scott Webster
  19 December 2023 | Operations Research, Vol. 72, No. 3
- Forecasting hotel room prices when entering turbulent times: a game-theoretic artificial neural network model
  27 June 2023 | International Journal of Contemporary Hospitality Management, Vol. 36, No. 4
- Receding Horizon Games for Modeling Competitive Supply Chains⋆
  IFAC-PapersOnLine, Vol. 58, No. 18
- Facility Location and Discrete Pricing under Random Utilities
  1 January 2024 | SSRN Electronic Journal, Vol. 123
- The Impact of Risk-awareness on Assortment Planning
  1 January 2024 | SSRN Electronic Journal, Vol. 26
- Technical Note—Optimizing Risk-Balancing Return Under Discrete Choice Models
  Hongmin Li,
  Scott Webster
  10 May 2023 | Operations Research, Vol. 71, No. 6
- Risk-averse dynamic pricing using mean-semivariance optimization
  European Journal of Operational Research, Vol. 310, No. 3
- A reinforcement learning approach for hotel revenue management with evidence from field experiments
  15 March 2023 | Journal of Operations Management, Vol. 69, No. 7
- Optimizing a single-product production-inventory system under constant absolute risk aversion
  3 December 2022 | TOP, Vol. 31, No. 3
- Analytics for multiperiod risk‐averse newsvendor under nonstationary demands
  18 November 2021 | Decision Sciences, Vol. 54, No. 5
- Decision support system for managing multi-echelon supply chain networks against disruptions using adaptive fractional order control algorithm
  28 April 2023 | RAIRO - Operations Research, Vol. 57, No. 2
- Competitive pricing on online markets: a literature review
  14 June 2022 | Journal of Revenue and Pricing Management, Vol. 21, No. 6
- A control algorithm for a non-stationary batch service production system using Kalman filter
  Expert Systems with Applications, Vol. 207
- Dynamic pricing and inventory control with delivery flexibility
  14 June 2017 | Annals of Operations Research, Vol. 317, No. 2
- Blurred lines: comparing room rates, star-ratings, and user-generated contents for full-service and select-service hotels
  11 February 2022 | Service Business, Vol. 16, No. 3
- Contingent stimulus in crowdfunding
  1 September 2022 | Production and Operations Management, Vol. 31, No. 9
- Robust price optimization of multiple products under interval uncertainties
  29 June 2021 | Journal of Revenue and Pricing Management, Vol. 21, No. 4
- Sales Effort Management Under All-or-Nothing Constraint
  Longyuan Du,
  Ming Hu,
  Jiahua Wu
  6 October 2021 | Management Science, Vol. 68, No. 7
- Multiproduct Pricing with Discrete Price Sets
  Chandrasekhar Manchiraju,
  Milind Dawande,
  Ganesh Janakiraman
  27 January 2022 | Operations Research, Vol. 70, No. 4
- Self-Adaptive Agents in a Dynamic Pricing Duopoly: Competition, Collusion, and Risk Considerations
  20 April 2022 | SN Computer Science, Vol. 3, No. 3
- Heuristic mean-variance optimization in Markov decision processes using state-dependent risk aversion
  17 May 2021 | IMA Journal of Management Mathematics, Vol. 33, No. 2
- Asset Selling Under Debt Obligations
  Hyun-Soo Ahn,
  Derek D. Wang,
  Owen Q. Wu
  14 May 2021 | Operations Research, Vol. 69, No. 4
- Mapping the Ethicality of Algorithmic Pricing: A Review of Dynamic and Personalized Pricing
  10 December 2019 | Journal of Business Ethics, Vol. 170, No. 4
- Dynamic pricing in different Spanish resort hotels
  26 August 2019 | Tourism Economics, Vol. 27, No. 2
- Risk-sensitive control of Markov decision processes: A moment-based approach with target distributions
  Computers & Operations Research, Vol. 123
- Fake online reviews: Literature review, synthesis, and directions for future research
  Decision Support Systems, Vol. 132
- Dynamische und individuelle Preise aus Unternehmens- und Verbrauchersicht
  14 May 2020
- Research on IRP of Perishable Products Based on Improved Differential Evolution Algorithm
  26 May 2020
- Time-consistent, risk-averse dynamic pricing
  European Journal of Operational Research, Vol. 277, No. 2
- Robust assortment optimization using worst-case CVaR under the multinomial logit model
  Operations Research Letters, Vol. 47, No. 5
- Dynamic Pricing Over Finite Horizons
  15 August 2019
- Dynamic Pricing Under Debt: Spiraling Distortions and Efficiency Losses
  Omar Besbes,
  Dan A. Iancu,
  Nikolaos Trichakis
  22 December 2017 | Management Science, Vol. 64, No. 10
- Revenue management and price optimization techniques in the hotel sector
  21 May 2018 | Tourism Economics, Vol. 24, No. 6
- Optimizing conditional value-at-risk in dynamic pricing
  22 March 2018 | OR Spectrum, Vol. 40, No. 3
- The pricing strategy for Fuji apple in Shaanxi of Chain under the e-commerce environment
  Kybernetes, Vol. 47, No. 1
- A survey on control theory applications to operational systems, supply chain management, and Industry 4.0
  Annual Reviews in Control, Vol. 46
- A survey on risk-averse and robust revenue management
  European Journal of Operational Research, Vol. 263, No. 2
- Resilient revenue management: a literature survey of recent theoretical advances
  6 April 2017 | Journal of Revenue and Pricing Management, Vol. 16, No. 5
- Selling Finite Capacity in Bulks*
  7 September 2016 | Decision Sciences, Vol. 48, No. 5
- A minmax regret price control model for managing perishable products with uncertain parameters
  European Journal of Operational Research, Vol. 258, No. 2
- Hotelling Model Based Dynamic Pricing of Three Sides
  24 August 2016
- Contingent Stimulus in Crowdfunding
  SSRN Electronic Journal, Vol. 22
- Distribution-free methods for multi-period, single-leg booking control
  12 December 2016 | Journal of Revenue and Pricing Management, Vol. 15, No. 6
- Practical decision rules for risk-averse revenue management using simulation-based optimization
  17 November 2016 | Journal of Revenue and Pricing Management, Vol. 15, No. 6
- Risk minimising strategies for revenue management problems with target values
  21 December 2017 | Journal of the Operational Research Society, Vol. 67, No. 3
- Information management strategies and supply chain performance under demand disruptions
  17 December 2014 | International Journal of Production Research, Vol. 54, No. 1
- Dynamic Pricing of Peak Production
  Heikki Peura,
  Derek W. Bunn
  4 November 2015 | Operations Research, Vol. 63, No. 6
- A stochastic dynamic pricing and advertising model under risk aversion
  3 July 2015 | Journal of Revenue and Pricing Management, Vol. 14, No. 6
- Dynamic pricing in a dual‐market environment
  26 October 2015 | Naval Research Logistics (NRL), Vol. 62, No. 7
- Value-at-risk optimal policies for revenue management problems
  International Journal of Production Economics, Vol. 166
- Risk management policies for dynamic capacity control
  Computers & Operations Research, Vol. 59
- Recent Developments in Dynamic Pricing Research: Multiple Products, Competition, and Limited Demand Information
  1 May 2015 | Production and Operations Management, Vol. 24, No. 5
- A Stochastic Dynamic Pricing and Advertising Model Under Risk Aversion
  SSRN Electronic Journal, Vol. 65
- Yield Optimization of Display Advertising with Ad Exchange
  Santiago R. Balseiro,
  Jon Feldman,
  Vahab Mirrokni,
  S. Muthukrishnan
  17 October 2014 | Management Science, Vol. 60, No. 12
- Analysis of dynamic pricing based on price discrimination through two models
  22 August 2014 | International Journal of Management Science and Engineering Management, Vol. 9, No. 4
- Optimizing the conditional value-at-risk in revenue management
  7 November 2013 | Review of Managerial Science, Vol. 8, No. 4
- Evaluating extraordinarily large requests in a revenue management environment
  15 March 2013 | Journal of Revenue and Pricing Management, Vol. 12, No. 4
- Optimizing the Conditional Value-at-Risk in Revenue Management
  SSRN Electronic Journal, Vol. 9
- Dynamic Pricing with Financial Milestones: Feedback-Form Policies
  Omar Besbes,
  Costis Maglaras,
  27 April 2012 | Management Science, Vol. 58, No. 9
- Efficient frontiers in revenue management
  15 October 2011 | Journal of Revenue and Pricing Management, Vol. 11, No. 4
- A consumer choice behavior model for the substitutable products
- Optimal pricing in the presence of strategic consumer behavior risk
- Applicability of optimal control theory to adaptive supply chain planning and scheduling
  Annual Reviews in Control, Vol. 36, No. 1
- Risk averse retail pricing with robust demand forecasting
  International Journal of Production Economics, Vol. 136, No. 1
- Revenue Management
  21 December 2011
- Risk-averse decision making in overbooking problem
  21 December 2017 | Journal of the Operational Research Society, Vol. 62, No. 9
- Revenue optimization of risk-averse managers with atemporal utility
  23 April 2010 | Journal of Revenue and Pricing Management, Vol. 10, No. 5
- A model for airline seat control considering revenue uncertainty and risk
  29 May 2009 | Journal of Revenue and Pricing Management, Vol. 10, No. 2
- ON APPLICABILITY OF OPTIMAL CONTROL THEORY TO ADAPTIVE SUPPLY CHAIN PLANNING AND SCHEDULING
  IFAC Proceedings Volumes, Vol. 44, No. 1
- Percolated simulation approach for optimization of preserve service system design
  Expert Systems with Applications, Vol. 37, No. 10
- List pricing versus dynamic pricing: Impact on the revenue risk
  European Journal of Operational Research, Vol. 204, No. 3
- Risk-sensitive dynamic pricing for a single perishable product
  Operations Research Letters, Vol. 37, No. 5
- Style goods pricing with demand learning
  European Journal of Operational Research, Vol. 196, No. 3

Volume 56, Issue 2

March-April 2008

Pages ii-526

Article Information

Supplemental Material

Metrics

Information

Received:December 01, 2005
Accepted:March 01, 2007
Published Online:December 03, 2007

Cite as

Yuri Levin, Jeff McGill, Mikhail Nediak, (2007) Risk in Revenue Management and Dynamic Pricing. Operations Research 56(2):326-343.

https://doi.org/10.1287/opre.1070.0438

Keywords

PDF download

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Risk in Revenue Management and Dynamic Pricing

Supplemental Material

Volume 56, Issue 2

Article Information

Supplemental Material

Metrics

Information

Cite as

Keywords

Sign Up for INFORMS Publications Updates and News