We consider a service firm that caters to price and delay sensitive customers by offering a menu of service grades. Each service grade is associated with posted price and delay. Noting that an optimal menu size could be quite large when there are many classes, we study whether the firm can offer...

Firms have more information than their customers about the availability of the product. Given the increase in the strategic nature of customers, who consider both prices with future availability risk in making their purchase decisions, the firm may be interested in communicating this information...

A core problem in the area of revenue management is pricing goods in the presence of strategic customers. We study this problem when customers are heterogeneous with respect to their initial valuations for the item and their time sensitivities, i.e., the customers differ in both their initial...

We consider revenue and social optimization in an M/M/1 queue with price and delay sensitive customers, and study the performance of uninformed pricing that does not require any arrival rate information. We formally characterize the optimal uninformed price and its performance relative to...

We study the value of dynamic pricing to maximize revenues in queueing systems with price and delay sensitive customers. The system queue length is visible so that upon arrival, customers decide to join the system based on the congestion and the price at that time. We analyze this problem in the...

We argue that dynamic pricing motivated by the management of inventory holding and ordering costs leads to increased operational efficiencies which could benefit firms without hurting consumers. To demonstrate this point, we equip the traditional economic order quantity (EOQ) setting with a rich...