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Faculty Research
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
- capacity control and
overbooking decisions that are common in the travel and hospitality
industries,
- on-line algorithms and adaptive, dynamic inventory
control policies in revenue management with limited demand information,
- applying revenue management to manufacturing and
available-to-promise systems,
- pricing of goods across multiple
stores for a retailer,
- mark-down pricing,
- the effect of
strategic consumer behavior on pricing and inventory allocation
decisions,
- centralized vs. decentralized decision making in revenue
management and
- 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
- developing a statistical approach and applying state-of-the-art
statistical methods for visualizing, collecting, modeling, and analyzing
such data,
- using advanced optimization to understand how to
evaluate bids, price goods and guide bidding behavior in complex
combinatorial auctions,
- employing game-theoretic tools to gain
insight into the equilibrium properties exhibited by many standard
auction formats,
- testing the robustness and developing
experimental.
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