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We consider a periodic-review single-product inventory system with fixed cost under censored demand. Under full demand distributional information, it is well-known that the celebrated $(s,S)$ policy is optimal. In this paper, we assume the firm does not know the demand distribution a priori, and...
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We study a dynamic assortment selection problem where arriving customers make purchase decisions among offered products from a universe of $N$ products under a Markov-chain-based choice (MCBC) model. The retailer observes only the assortment and the customer's single choice per period. Given...
Persistent link: https://www.econbiz.de/10014084980
In ride-hailing markets, the spatial mismatch between supply and demand characterizes one of the most fundamental operational bottlenecks. The voluntary customer search of drivers is oftentimes inadequate for narrowing the demand-supply gaps and falls short in responding timely to the dynamic...
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Despite the documented benefits of ride-sourcing services, recent studies show that they can slow down traffic in the densest cities significantly. To implement congestion pricing policies upon those vehicles, regulators need to estimate how much their congestion effects are. This paper studies...
Persistent link: https://www.econbiz.de/10014103184
Activating self-scheduling workers on on-demand platforms when services are most needed is challenging because of a lack of cooperation between workers. To align workers' interests with the platform's profit-driven goals, various ride-sharing and food delivery platforms have recently embraced...
Persistent link: https://www.econbiz.de/10013216424
Incentive contracts with multiple agents is a classical decentralized decision-making problem with asymmetric information. Contract design aims to incentivize noncooperative agents to act in the principal's interest over a planning horizon. We extend the single-agent incentive contract to a...
Persistent link: https://www.econbiz.de/10012901050
On-demand transportation systems (OTS) are increasingly popular worldwide. Modeling these systems as closed queueing networks (CQN) or semi-open queueing networks (SOQN) makes optimizations tractable, and controls robust to input data. Prior literature has obtained mean performance measures...
Persistent link: https://www.econbiz.de/10012871512