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We study assortment optimization problems under a natural variant of the multinomial logit model where the customers are willing to focus only on a certain number of products that provide the largest utilities. In particular, each customer has a rank cutoff, characterizing the number of products...
Persistent link: https://www.econbiz.de/10014030356
In this paper, we introduce the Multi-Purchase Multinomial Logit choice model, which extends the random utility maximization framework of the classical Multinomial Logit model to a multiple-purchase setting. In this model, customers sample random utilities for each offered product as in the...
Persistent link: https://www.econbiz.de/10013223228
In this paper, we consider an assortment optimization problem in which a platform mustchoose pairwise disjoint sets of assortments to offer across a series of T stages. Arrivingcustomers begin their search process in the first stage and progress sequentially throughthe stages until their...
Persistent link: https://www.econbiz.de/10013215231
In this paper, we introduce and study the joint inventory and online resource allocation problem, which is characterized by two sequential sets of decisions that are irrevocably linked. First, a decision maker must select starting inventory levels for a set of available resources. Subsequently,...
Persistent link: https://www.econbiz.de/10014086647
Persistent link: https://www.econbiz.de/10009720742
We consider uncapacitated and capacitated assortment problems under the paired combinatorial logit model, where the goal is to fi nd a set of products to maximize the expected revenue obtained from each customer. In the uncapacitated setting, we can offer any set of products, whereas in the...
Persistent link: https://www.econbiz.de/10014034181
We consider a yield-management approach to determine whether a restaurant should accept or reject a pending reservation request. This approach was examined by Bossert (2009), where the decision for each request is evaluated by an approximate dynamic program (ADP) that bases its decision on a...
Persistent link: https://www.econbiz.de/10009479967
In this paper, we consider assortment optimization under the sequential Multinomial-Logit (MNL) choice model, recently proposed by Lui et. al. (2019) to capture a multitude of applications, ranging from appointment scheduling in hospitals, restaurants, and fitness centers to product...
Persistent link: https://www.econbiz.de/10014104617
We study free-ride policies as a mechanism to incentivize users of a "dockless" or "free-floating" electric vehicle sharing system (EVSS) to park vehicles at charging stations in order to maintain a charged fleet.A balanced system has a fleet that is adequately charged and evenly dispersed...
Persistent link: https://www.econbiz.de/10014106120
Customer choice models are a fundamental tool used by retailers to optimize inventory, pricing, and stocking decisions. One important optimization problem is the assortment problem in which the retailer wants to determine which products to offer to customers to maximize expected revenue. This...
Persistent link: https://www.econbiz.de/10012950529