Principles of pricing: an analytical approach
- New York Cambridge University Press 2012
- x, 250 p.
Table of Contents 1. Introduction 2. Buyer behavior 3. Estimating price response 4. Uniform posted price 5. Auctions 6. Price discrimination 7. Pricing and competition 8. Bringing it all together 9. Appendix on game theory.
Pricing drives three of the most important elements of firm success: revenue and profits, customer behavior and firm image. This book provides an introduction to the basic principles for thinking clearly about pricing. Unlike other marketing books on pricing, the authors use a more analytic approach and relate ideas to the basic principles of microeconomics. Rakesh Vohra and Lakshman Krishnamurthi also cover three areas in greater depth and provide more insight than may be gleaned from existing books: 1) the use of auctions, 2) price discrimination and 3) pricing in a competitive environment.
Analytical and descriptive treatment of pricing, not simply anecdotal Both relevant and rigorous in its approach, based on 20 years of teaching the subject in the MBA/PhD classroom Readable as well as encouraging the reader to work through the logic of the arguments