Decision, Risk, and Operations Division chair Garrett van Ryzin has won the prestigious 2011 INFORMS Revenue Management and Pricing Historical Prize.  Professor van Ryzin shares the award with his co-author and Columbia University colleague Guillermo Gallego of the Industrial Engineering and Operations Research Department.  The prize honors van Ryzin and Gallego for their joint work on the following two papers:

"Optimal Dynamic Pricing of Inventories with Stochastic Demand over Finite Horizons," Management Science, Vol. 40, No. 8, 1994, pp. 999-1020.

"A Multiproduct Dynamic Pricing Problem and Its Applications to Network Yield Management," Operations Research, Vol. 45, No. 1, 1997, pp. 24-41.

 Together, these two papers have been cited more than 1,000 times.