Bayesian demand forecasting and customer choice modeling for low cost carriers
First Statement of Responsibility
Steffen Christ ; with a foreword by Robert Klein.
.PUBLICATION, DISTRIBUTION, ETC
Place of Publication, Distribution, etc.
Wiesbaden [Germany]
Name of Publisher, Distributor, etc.
Gabler
Date of Publication, Distribution, etc.
2011
PHYSICAL DESCRIPTION
Specific Material Designation and Extent of Item
(xxvi, 351 pages) : illustrations
SERIES
Series Title
Gabler research.
CONTENTS NOTE
Text of Note
pt. 1. Dynamic pricing in the airline industry --; pt. 2. Forecasting latent demand --; pt. 3. Estimating price sensitivity.
SUMMARY OR ABSTRACT
Text of Note
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.