4th Annual INFORMS Revenue Management and Pricing Section Conference
June 10-11, 2004
Sloan School of Management, MIT
50 Memorial Drive Cambridge MA

The Fourth Annual INFORMS Revenue Management and Pricing Section Conference will be held at the Sloan School of Management, MIT [Map] on June 10-11, 2004. The event, which builds on the great success of the first three INFORMS Revenue Management and Pricing Section conferences, is an essential forum for both revenue management and pricing practitioners and academics who want to keep abreast of the latest scientific developments in the field. The conference will feature presentations from a mix of academic and industry leaders in the field of revenue management and pricing.

Presentations are now online!

Pictures from the conference reception are here.

The conference is co-sponsored by Columbia University, Sloan School of Management MIT, NSF, The Operations Research Center, PROS Revenue Management, ProfitLogic, and The Revenue Management and Pricing Section of INFORMS.

For more details, please contact:
Georgia Perakis
Sloan School of Management
Massachusetts Institute of Technology
50 Memorial Dr., Room E53 -- 359
Cambridge, MA 02139

Costis Maglaras
Graduate School of Business 
Columbia University 
409 Uris Hall 
New York, NY 10027

We look forward to welcoming you in Boston in June.

Day 1
Day 2



MIT Logo
The organizing committee:
Dimitris Bertsimas, Nelson Fraiman, Guillermo Gallego, Costis Maglaras, Georgia Perakis, Garrett van Ryzin

CU LOGO    MIT LOGO    PROS Revenue Management    ORC    NSF    ProfitLogic

Day 1 Program

7:00-8:00am    Breakfast and Registration    [
E51 Tang Center <Map>, Floor 3 Lobby]
Opening Remarks   [Room E51-345]
    Costis Maglaras and Georgia Perakis
8:15-8:30am   Welcome   [Room E51-345]
Day 1/Track 1 Parallel Sessions

8:30-10:00am    Revenue Management and Market Structure    [Room E51-345]
Session Chair: Gabriel Bitran, MIT
·    Online Low Price Guarantees - A Real Options Analysis
     Chris K. Anderson, Ben Marcus, Ivey School of Business, University of Western Ontario,
     Montgomery Blair, Dollar Thrifty Automotive Group.
·    Problems of Contract Pricing
     Ahmet Kuyumcu and Dinesh Mehta, Zilliant, Inc.
·    Dynamic Revenue Management Games with Forward and Spot Markets
     Guillermo Gallego, Srinivas Krishnamoorthy, Columbia University, and Robert Phillips, Nomis Solutions.

8:30-10:00am    Airline Revenue Management    [Room E51-395]
Session Chair: Peter Belobaba, MIT
·    Algorithms for Revenue Management in Unrestricted Fare Markets
     Craig Hopperstad, Hopperstad Consulting, and Peter Belobaba, MIT International Center for Air Transportation.
·    Dynamic Pricing for Parallel Flights
     Dan Zhang and William L. Cooper, Graduate Program in Industrial Engineering, University of Minnesota.
·    On the Choice-Based LP Model for Network RM
     Garrett van Ryzin and Qian Liu, Columbia University.

10:00-10:30am   Coffee Break

Day 1/Track 2 Parallel Sessions

10:30-12:00pm    Applications of Revenue Management   [Room E51-345]
Session Chair: Nelson Fraiman, Columbia University
·    Modeling extensions for a class of business-to-business revenue management problems
     Nicola Secomandi, Carnegie Mellon University.
·    Incentive-Compatible Revenue Management in Queueing Systems: Optimal Strategic Idleness and other Delaying Tactics
     Philipp Afeche, Kellogg School of Management, Northwestern.
·    Business Rule Constrained Price Discovery Models in Transportation Procurement Auctions
     Jiongjiong Song, Institute of Transportation Studies, University of California and
     Amelia Regan, Graduate School of Management, University of California.

10:30-12:00pm    Robust Revenue Management    [Room E51-395]
Session Chair: Soulaymane Kachani, Columbia University
·    Data-driven revenue management
     Dimitris Bertsimas, and Aurelie Thiele, MIT.
·    Multiperiod Pricing for Perishable Products; a Robust Optimization Approach
     Anshul Sood, and Georgia Perakis, MIT.
·    Pricing & Elasticity Price on segmented markets under a Conjoint Study
     Agustín Cano, Aeromexico.

12:00-2:00pm   Lunch Break   [Sloan School Faculty Club]

2:00-2:45pm   Plenary Talk   [Sloan School Faculty Club]
    Session Chair: Awi Fedegruen, Columbia University
    How the Internet is Impacting Revenue Management, Pricing, and Distribution
    Andy Boyd, PROS Revenue Management

2:45-3:15pm   Coffee Break

Day 1/Track 3 Parallel Sessions

3:15-5:15pm    Equilibrium in Revenue Management Games    [Room E51-345]
Session Chair: John Tsitsiklis, MIT
·    Auction Algorithms for Market Equilibrium
     Rahul Garg and Sanjiv Kapoor, IBM.
·    Price and service competition among service providers operating general queueing facilities
     G. Allon and Awi Federgruen, Columbia University. 
·    Efficiency Loss in Resource Allocation and Supplier Selection Games
     John Tsitsiklis, and Ramesh Johari, MIT.
·    Dynamic Pricing under Strategic Consumption
     Chunyang Tong and Sriram Dasu, Marshall School of Business, University of Southern California.

3:15-5:15pm    Revenue Management in Information Services   [Room E51-395]
Session Chair: Steve Graves, MIT
·    Token-Bucket Pricing for Shared Services
     Opher Baron, University of Toronto, Dirk Beyer, HP Labs, Palo Alto, and Gabriel Bitran, MIT. 
·    Analysis of a Yield Management Model for On Demand IT Services
     Yezekael Hayel, INRIA-IRISA, Rennes, France, Laura Wynter, Parijat Dube, IBM.
·    Optimal Price Design for Variable Capacity Outsourcing Contracts
     Chris Kenyon and Giuseppe Paleologo, IBM Research.
·    Dynamic Pricing of Information Goods under Demand Uncertainty
     Eric W. Cope, The Sauder School of Business, University of British Columbia.

6:00-11:00pm    Reception    [Empress Room, Hyatt Regency Hotel, Cambridge]
                        6:00-7:00pm      Cocktails and Appetizers
                                                    Shiba Nemat-Nasser (Mezzo-soprano) and Jonathan Vincent (Piano & Accordion)
                                                        performing works by Satie, Poulenc, Weill, and others.
                        7:00-8:00pm      Plenary Talk
                                                    Scott Friend, President, Rama Ramakrishnan, Chief Scientist and VP, ProfitLogic
                                                    Merchandise Optimization -- How ProfitLogic is Leveraging the Power of
                                                    Revenue Management to Dramatically Transform Profitability in the Fashion Retail Industry
                        8:00-11:00pm    Buffet Dinner

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Day 2 Program
Day 2/Track 1    Parallel Sessions

8:00-8:30am    Breakfast and Registration    [E51 Tang Center <Map>, Floor 3 Lobby]
8:30-10:00am    Retail and Manufacturing Revenue Management   [Room E51-345]
Session Chair: Jeremie Gallien, MIT
·    Dynamic Cross-Selling in E-commerce Retailing
     Serguei Netessine, The Wharton School, University of Pennsylvania,
     Sergei Savin, and Wen-Qiang Xiao, Columbia University.
·    Revenue Management Through Cross-Selling
     E. Lerzan Ormeci, Department of Industrial Engineering, Koc University,
     O. Zeynep Aksin, Graduate School of Business, Koc University and
     Evrim-Didem Gunes INSEAD, Boulevard de Constance.
·    Dynamic Negotiation Guidelines for Make-To-Order Contracts
     Jeremie Gallien, Yann Le Tallec and Tor Schoenmeyr, MIT.

8:30-10am    Revenue Management and Product Design   [Room E51-395]
Session Chair: Guillermo Gallego, Columbia University
·    Analysis of an integrated pricing model
     Patrice Marcotte, University of Montreal, Gilles Savard, Ecole Polytechnique, Montreal.
·    Dynamic flow management of on-demand service and production networks
     Costis Maglaras, Columbia University.
·    Capacity Allocation to Support Customer segmentation by product preference
     Guillermo Gallego, Columbia University, Ozalp Ozer, Stanford U., Robert Phillips, Columbia University.

10:00am-10:30am   Coffee Break

Day 2/Track 2    Parallel Sessions

Revenue Management in Competitive Environments   [Room E51-345]
Session Chair: Garrett van Ryzin, Columbia University
·    Revenue Management in the Context of Dynamic Oligopolistic Network Competition
     Terry L. Friesz, Reetabrata Mookherjee and Matthew Rigdon, Penn State University. 
·    Equilibrium problems with equilibrium constraints: A new modeling paradigm for revenue management
     Houyuan Jiang, Daniel Ralph, Stefan Scholtes, The Judge Institute of Management, University of Cambridge.
·    An MPEC Approach to Dynamic Pricing and Demand Learning
     Soulaymane Kachani, Columbia University, Georgia Perakis and Carine Simon, MIT

10:30-12:00pm    Stochastic Optimization in Revenue Management   [Room E51-395]
Session Chair: Costis Maglaras, Columbia University
·    An Asymptotically-Optimal Dynamic Admission Policy for a Revenue Management Problem
     Marty Reiman and Qiong Wang, Bell Labs.
·    Optimal Dynamic Stochastic Network Yield Management
     Xiubin Wang, Transportation and Logistics Research Center, University of Wisconsin-Superior.
·    A Value Function Decomposition Approach to Revenue Management Network Problems
     Darius Walczak, PROS Revenue Management.

12:00-2:00pm   Lunch Break   [Sloan School Faculty Club]

2:00-2:45pm    Plenary Talk   [Sloan School Faculty Club]
    Session Chair: Georgia Perakis, MIT
    Callable and Flexible Revenue Management
    Guillermo Gallego, Columbia University

2:45-3:15pm    Coffee Break

Day 2/Track 3    Parallel Sessions

4:45pm    Pricing in Production    [Room E51-345]
Session Chair: Dimitris Bertsimas, MIT
·    Price-Directed Control of a Closed Logistics Queueing Network
     Dan Adelman, Graduate School of Business, The University of Chicago.
·    Optimal Pricing and Replenishment in a Single-Product Inventory System
     Hong Chen, Owen Wu, Hong Kong and David D. Yao, Columbia University.
·    A Robust Nonlinear Fluid Model of Dynamic Pricing and Inventory Control with no Backorders
     Elodie Adida, and Georgia Perakis, MIT.

4:45pm    Industry Applications   [Room E51-395]
Session Chair: Warren Lieberman, Veritec Solutions
·    Hotel Revenue Management in Competitive Market
     Hong Jin, Starwood Hotels and Resorts Worldwide, Inc.
·    Optimizing Decisions over the Long-term in the Presence of Uncertain Response
     Edward Kambour, PROS Revenue Management.
·    Estimating the Impact of Revenue Management Decisions
     Warren Lieberman, Veritec Solutions.

4:45-5:00pm    Closing Remarks

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Recommended Accomodation *

    Hotels with Special Rate for the conference:

    Club Quarters [Website]
        161 Devonshire St, Boston
        Call 212-575-0006 to reserve 
        Mention code: MIT609
        Price: $116.00 + tax per night
    Apartments within the MIT campus [Website]
        $91.00 fee per night, no tax.
        If you choose this option please email on or after May 13th.
        Use Subject: RM Conference Accomodations
        We have 20 apartments blocked for the conference; Reservations will be processed on a first come basis.

    Other Recommended Hotels:

    Hotel Wyndham   [Website]
    Royal Sonesta     [Website]
    Hotel@MIT     [Website]
    Hyatt Regency     [Website]
    Residence Inn   [Website]
    Hotel Marlowe     [Website]
    ***Ask for the MIT room rates.***

    The reception is at The Hyatt, Cambridge [Website]

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