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stochastic gradient descent based methods in the price space. We propose a novel nonparametric learning algorithm termed online … inverse batch gradient descent (IGD) algorithm. This algorithm proceeds in batches. In each batch, the firm implements each … the prices for the next batch. Moreover, we also propose an inventory adjusted algorithm (IGD-I) that the feasible market …
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Many service industries use revenue management to balance demand and capacity. The assumption of risk-neutrality lies at the heart of the classical approaches, which aim at maximizing expected revenue. In this paper, we give a comprehensive overview of the existing approaches, most of which were...
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We consider an assortment optimization problem where the retailer needs to choose a set of products to offer to customers from the range of available products. By choosing the assortment, which will affect customers' purchase choice, the retailer aims to obtain a high expected revenue. We study...
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