Revenue Management and Pricing
Several faculty members in the department work on revenue management and pricing. Our faculty members look at better (or optimal) ways of controlling inventories, capacities or making pricing decisions in various industries - ranging from services to supply chains. Some of the recent work is related to (i) capacity control and overbooking decisions that are common in the travel and hospitality industries, (ii) on-line algorithms and adaptive, dynamic inventory control policies in revenue management with limited demand information, (iii) applying revenue management to manufacturing and available-to-promise systems, (iv) pricing of goods across multiple stores for a retailer, (v) mark-down pricing, (vi) the effect of strategic consumer behavior on pricing and inventory allocation decisions, (vii) centralized vs decentralized decision making in revenue management and (viii) pricing telecommunications services.
Operations and Supply Chain Management
Faculty research involves the development and analysis of quantitative models of operations and supply chain management such as closed-loop supply chains, perishable goods inventory management, production planning, incentives for information flows, operational flexibility, procurement, technology management, product development, and financial engineering. Methodological approaches include economic analysis, math programming, optimization, simulation and stochastic methods.
Auctions
Faculty in our department research a broad range of topics associated with the rising popularity and use of online auctions in business-to-business, business-to-government as well as business-to-consumer markets. Some streams from our research include (i) developing a statistical approach and applying state-of-the-art statistical methods for visualizing, collecting, modeling, and analyzing such data, (ii) using advanced optimization to understand how to evaluate bids, price goods and guide bidding behavior in complex combinatorial auctions, (iii) employing game-theoretic tools to gain insight into the equilibrium properties exhibited by many standard auction formats, (iv) testing the robustness and developing experimental.
