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Bridging Theory and Practice
Pricing is one of the most powerful but least understood disciplines within many organizations. The Center for Pricing and Revenue Management is a joint initiative between Columbia Business School and Columbia's Fu School of Engineering. The center encourages interdisciplinary research, collaboration, and information exchange among faculty members, students, and industry professionals who use and supply analytic approaches to pricing and revenue management.
Center faculty members are drawn from several departments across the University. The center’s activities focus on research and education in all aspects of tactical pricing and demand management; foundational research on forecasting, data analysis, demand modeling, customer behavior, and optimization; and the implementation of pricing and revenue management systems and best practices.
The Center brings together faculty members and graduate students from various schools and departments to collaborate on research, organizes regular seminars and events, disseminates working papers, and provides executive education and other specialized training in areas related to pricing. It also provides a set of standardized real-world data sets for researchers, as well as an archive of educational material including cases, problem sets, and teaching notes to support teachers leading classes in revenue management and pricing.
The Center hosted the 2015 INFORMS RM&P Conference June 11&12. The Practice Prize was awarded to "Competition-based Dynamic Pricing in Online Retailing." Jun Li and Santiago Gallino accepted the prize.
The Birth and Death of the Price Tag
Center Director Robert Phillips on NPR's Planet Money