This paper studies a class of ranking and selection problems faced by a company that wants to identify the most preferred product out of a finite set of alternatives when consumer preferences are a priori unknown. The only information available is that consumer preferences satisfy two key...

A common practice for freemium games is to launch with a simple and intuitive design and release premium features over time in the form of in-app purchases (IAPs) to monetize players.We propose an optimal control model that yields insights into the optimality and economic justification of such...