Student - Centric Interactive Teaching of Revenue Management
This educational platform was developed by Professors Kimon Drakopoulos and Raman Randhawa at the Marshall School of Business, to support the teaching of Revenue Management. It is provided for free to all educators and spans the topics presented below.
In order to get access to the platform, the teaching note and the sample slide deck please click here. If you need a passcode please contact Kimon at firstname.lastname@example.org.
Introduction to Pricing
Students Design an Experiment to extranct Willingness to Pay. Given the real-time data they learn how to perform revenue calculations and fit a demand function!.
Students learn the value of price differentiation using dynamic pricing.
Pricing and Uncertainty
Students face uncertainty in their pricing decisions. When is the right time to increase the price? How many seats should we reserve for the late-coming high-willingness to pay customers?
When is it a good time to reduce the price? What are the tradeoffs?
What if there is no historical data and we learn as we go? How can we balance exploration and exploitation?