Costis Maglaras

David and Lyn Silfen Professor of Business

Decision, Risk, and Operations

Director

Doctoral Program

BSEE, Imperial College, London 1990; MSEE, Stanford, 1991; PhDEE, 1998

Joined CBS in 1998

Download Curriculum Vitae (PDF)

Costis Maglaras

Office
409 Uris

Phone
212-854-4240

E-mail
cm479@columbia.edu

Fax
212-316-9180

Teaching and research interest

Costis Maglaras is a Professor at the Graduate School of Business at Columbia University in the division of Decision, Risk & Operations. His research focuses on quantitative pricing and revenue management, the economics, design, and operations of service systems, and financial engineering.

Costis received his BS in Electrical Engineering from Imperial College, London, in 1990, and his MS and PhD in Electrical Engineering from Stanford University in 1991 and 1998, respectively. From 1991 to 1993 he served as a research scientist at Canon Research Center America. He joined Columbia Business School in 1998. During his sabbatical in 2007, he was involved in starting Mismi Inc., where he continues to serve as its Head of Research and be part of its management team. He has also been a frequent consultant to industry.

Professor Maglaras is the author of many research articles spanning the theory and application of stochastic modeling in queueing networks, service systems, quantitative pricing, and revenue management. His recent work focuses on the application of quantitative modeling in the pricing, risk management and valuation of multi-unit real estate portfolios, and in the design of portfolio trading systems and portfolio trading algorithms. He is the author of one patent (pending approval). His research has been recognized by the 1999 INFORMS Nicholson Prize for the best student paper in Operations Research and Management Science, the 2008 INFORMS Revenue Management and Pricing Section best research paper award, and his students have won several best paper awards for their doctoral research. He has also received the Dean’s award at Columbia Business School for teaching excellence for the core course Managerial Statistics. He is a frequent speaker in academic and industry forums.

Professor Maglaras serves as the chair of INFORMS’ Revenue Management and Pricing Section for 2008-2009. He teaches and serves as faculty director for the executive education course on Risk Management offered by Columbia Business School. He holds editorial positions in many of the flagship journals in operations research and management science.

Chapters

Dynamic pricing strategies for multi-product revenue management problems In Wiley Encyclopedia of Operations Research and Management (2010)
Author(s): Costis Maglaras

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Product design in a market with satisficing customers In Consumer-Driven Demand and Operations Management Models (2009)
Author(s): Matulya Bansal, Costis Maglaras

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Journal articles

Dynamic Pricing with Financial Milestones: Feedback-Form Policies In Management Science (2012)
Author(s): Omar Besbes, Costis Maglaras

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Guest Editorial to a Special Issue In Journal of Revenue and Pricing Management (2010)
Author(s): Costis Maglaras

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Monopoly pricing with limited demand information In Journal of Revenue & Pricing Management (2010)
Author(s): Serkan Eren, Costis Maglaras

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Revenue Optimization for a Make-to-Order Queue in an Uncertain Market Environment In Operations Research (2009)
Author(s): Omar Besbes, Costis Maglaras

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Cross-selling in a call center with a heterogeneous customer population In Operations Research (2009)
Author(s): Itay Gurvich, Mor Armony, Costis Maglaras

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Dynamic pricing when customers strategically time their purchase: Asymptotic optimality of a two-price policy In Journal of Revenue and Pricing Management (2009)
Author(s): Matulya Bansal, Costis Maglaras

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Dynamic pricing and lead-time quotation for a multiclass make-to-order queue In Management Science (2008)
Author(s): Sabri Celik, Costis Maglaras

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Operations in the service industries: Introduction to the special issue In Production and Operations Management (2008)
Author(s): Uday Apte, Costis Maglaras, Michael Pinedo

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Dynamic pricing strategies for multiproduct revenue management problems In Manufacturing & Service Operations Management (2006)
Author(s): Costis Maglaras, Joern Meissner

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Revenue management for a multiclass single-server queue via a fluid model analysis In Operations Reserach (2006)
Author(s): Costis Maglaras

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Queueing systems with leadtime constraints: A fluid-model approach for admission and sequencing control In European Journal of Operational Research (2005)
Author(s): Costis Maglaras, Jan Van Mieghem

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Pricing and Design of Differential Services: Approximate Analysis and Structural Insights In Operations Research (2005)
Author(s): Costis Maglaras, Assaf Zeevi

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Contact Centers with a Call-Back Option and Real-Time Delay Information In Operations Research (2004)
Author(s): Mor Armony, Costis Maglaras

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Diffusion Approximations for a Markovian Multi-Class Service System with 'Guaranteed' and 'Best-Effort' Service Levels In Mathematics of Operations Research (2004)
Author(s): Costis Maglaras, Assaf Zeevi

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On Customer Contact Centers with a Call-Back Option: Customer Decisions, Routing Rules and System Design In Operations Research (2004)
Author(s): Mor Armony, Costis Maglaras

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Continuous-review tracking policies for dynamic control of stochastic networks In Queueing Systems (2003)
Author(s): Costis Maglaras

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Pricing and Capacity Sizing for Systems with Shared Resources: Scaling Relations and Approximate Solutions In Management Science (2003)
Author(s): Costis Maglaras, Assaf Zeevi

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Optimal dynamic auctions for revenue management In Management Science (2002)
Author(s): Gustavo Vulcano, Garrett van Ryzin, Costis Maglaras

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Discrete-review policies for scheduling stochastic networks: Trajectory tracking and fluid-scale asymptotic optimality In The Annals of Applied Probability (2000)
Author(s): Costis Maglaras

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Dynamic scheduling in multiclass queueing networks: Stability under discrete-review policies In Queueing Systems (1999)
Author(s): Costis Maglaras

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CaseWorks

Did General Motors Produce to Match Demand?: Fall 2011
Author(s): Trevor Harris, Costis Maglaras, Nicolas Stier

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Hannah Montana and the Tour of Doom: Fall 2010
Author(s): Costis Maglaras

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EveryDay Medical - Keyword Bidding Optimization: Spring 2009
Author(s): Costis Maglaras

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Personal Training at the New York Health Club: Summer 2007
Author(s): Costis Maglaras

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Analyzing the Analysts: Fall 2008
Author(s): Paul Glasserman, Costis Maglaras

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Markdown Pricing Optimization at Bloomingdale's (A and B): Spring 2008
Author(s): Wei Ke, Costis Maglaras, Garrett J. van Ryzin

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Working Papers

A market microstructure model of a stochastic and dynamic matching problem with an application to residential real-estate Working paper (2011)
Author(s): Costis Maglaras

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A multiclass model of limit order book dynamics and its application to optimal trade execution Working paper (2011)
Author(s): Costis Maglaras, Ciamac Moallemi

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Bayesian learning from consumer reviews Working paper (2011)
Author(s): Costis Maglaras, Bar Ifrach, Marco Scarsini

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Monopoly pricing in the presence of social learning Working paper (2011)
Author(s): Costis Maglaras, Bar Ifrach, Marco Scarsini

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Optimal order flow routing, exchange competition, and the effect of make/take fees Working paper (2011)
Author(s): Costis Maglaras, Ciamac Moallemi, Hua Zhang

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Revenue maximization in a queueing system offering differentiated services Working paper (2011)
Author(s): Costis Maglaras, John Yao, Assaf Zeevi

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The effect of flow internalization in price volatility and trade executions costs Working paper (2011)
Author(s): Costis Maglaras

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Modeling and analysis of an aggregated market for procurement Working Paper (2010)
Author(s): Costis Maglaras, Ying-Ju Chen, Gustavo Vulcano

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Forthcoming Articles

A maximum entropy joint demand estimation and capacity control policy In Production and Operations Management (2010)
Author(s): Costis Maglaras, Serkan Eren

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Revenue Management for a Multiclass Make-to-Order Queue In Operations Research (2010)
Author(s): Costis Maglaras

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