Impact Prize

2016 - Awardee(s)

2016 Awardee(s)


The 2016 INFORMS IMPACT PRIZE is awarded to Peter Belobaba, E. Andrew Boyd, Tom Cook, Guillermo Gallego, Robert Phillips, Barry C. Smith, Kalyan Talluri and Garrett van Ryzin for contributions in revenue management.

Revenue management is the theory and practice of dynamically managing the price and availability of a portfolio of products or services to maximize profitability. Revenue Management was famously first developed to enable airlines to manage the prices and availability of their seat inventory following deregulation in 1978. During the 1980’s it spread from the airlines to other capacity-constrained service industries such as hotels, rental cars, and cruise lines. From the 1990’s through today it has become a mainstream business practice across a wide range of industries including not only airlines and hotels but also freight transportation, media, retailing, entertainment, consumer finance, and manufacturing. As the internet and the information economy has grown, revenue management has become even more critical to many businesses including Amazon, Airbnb, Google, Microsoft and UBER.

From its earliest days, the field of revenue management has been characterized by an active interchange between industry and academia. Revenue management has proven to be a deep and enduring topic for research. There are two specialty journals devoted the field of revenue management, as well as a Pricing and Revenue Management Section of INFORMS and an INFORMS Revenue Management and Pricing Conference which is attended by more than 100 practitioners and academics each year. Furthermore, academic research has resulted in approaches and algorithms that are routinely used to improve revenue-management systems used in industry that deliver additional revenues to companies while enabling access of scarce resources to customers.

For their pivotal role in the creation and wide-spread adoption of revenue management, INFORMS is pleased to award the 2016 Impact Prize to Peter Belobaba, E. Andrew Boyd, Tom Cook, Guillermo Gallego, Robert Phillips, Barry C. Smith, Kalyan Talluri, and Garrett van Ryzin.

Purpose of the Award

Princeton Consultants

The Impact Prize, awarded once every two years, is intended to recognize widespread impact in the practice of operations research. It may be awarded to an individual or a single set of collaborators. The award may be given for the original research (if these ideas have been widely adopted), and/or for special efforts required to bring the research to a practical form (e.g., implementation as a software package or the communication of a body of research through writings, teaching, and consulting). The important criterion is breadth of use in practice and relevance to operations research. The technical assessment of the quality of the work is considered secondary to the degree to which it has been widely adopted.

This is not a research award. The awards committee is not judging the quality of a body of work. Instead, emphasis will be placed on evaluating the breadth of the impact of an idea or body of research. If the major contribution of the individual or group is bringing an idea to a practice community, the precise nature of this contribution needs to be understood (leading a software company; lectures and writings).

The prize consists of a framed citation and a cash award of $1,000.

Initial Nominations Due April 30, 2018

Nominations will take place in two phases.
The initial nomination should be brief (no more than a page), and should contain the name of the person or set of collaborators responsible for the contribution; a brief summary of the idea or technology that is the basis of the award; a description of the industry or practitioner population that uses the idea; and the nature of the contribution made by the person or group being nominated (creator of the idea or technology).

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2018 Committee Chair

Susan Sanchez
Naval Postgraduate School
1411 Cunningham Rd, GL 273
Monterey, CA 93943

Click here for committee information.

Past Awardees

2016 Awardee(s)
Peter P. Belobaba, MIT Thomas M. Cook Guillermo Gallego, Columbia University & Hong Kong University of Science and Technology Robert L. Phillips, Nomis Solutions, Inc. Barry Smith, Sabre Holdings
Kalyan T. Talluri, Imperial College Business School Garrett J. van Ryzin, Cornell Tech E. Andrew Boyd, University of Houston and Houston Public Media
2014 Winner(s)
Brenda Dietrich, IBM T.J. Watson Research Center JP Fasano, IBM John Forrest, IBM Lou Hafer, Simon Fraser University Brady Hunsaker, Google Laszlo Ladanyi, IBM Robin Lougee, IBM Theodore K. Ralphs, Lehigh University Matthew Saltzman, Clemson University
2010 Winner(s)
Fred Glover and Solver
2008 Winner(s)
Dr. Thomas L. Saaty
2004 Awardee(s)
Fred W. Glover, OptTek Systems, Inc.