-
作者：Wang, Shouqiang; Ozkan-Seely, Gulru F.
作者单位：University of Texas System; University of Texas Dallas; University of Washington; University of Washington Bothell
摘要：It has become a ubiquitous practice for firms that sell new products, such as software, to offer consumers time-locked product trial periods free of charge. We identify trial length as a nuanced signaling instrument, which, together with the price signal, a firm can use to communicate proprietary information about its product quality. We show that a high-quality firmoffers a longer trial period and sets a higher price, and is rewarded with a higher profit, relative to its low-quality counterpa...
-
作者：Reich, Gregor
作者单位：University of Zurich
摘要：This paper develops a method to efficiently estimate hidden Markov models with continuous latent variables using maximum likelihood estimation. To evaluate the (marginal) likelihood function, I decompose the integral over the unobserved state variables into a series of lower dimensional integrals, and recursively approximate them using numerical quadrature and interpolation. I show that this procedure has very favorable numerical properties: First, the computational complexity grows linearly i...
-
作者：Zhang, Heng; Rusmevichientong, Paat; Topaloglu, Huseyin
作者单位：University of Southern California
摘要：We consider unconstrained and constrained multiproduct pricing problems when customers choose according to an arbitrary generalized extreme value (GEV) model and the products have the same price sensitivity parameter. In the unconstrained problem, there is a unit cost associated with the sale of each product. The goal is to choose the prices for the products to maximize the expected profit obtained from each customer. We show that the optimal prices of the different products have a constant ma...
-
作者：Kanori, Yash; Saban, Daniela; Sethuraman, Jay
作者单位：Columbia University; Stanford University; Columbia University
摘要：We consider a two-sided assignment market with agent types and a stochastic structure, similar to models used in empirical studies. We characterize the size of the core in such markets. Each agent has a randomly drawn productivity with respect to each type of agent on the other side. The value generated from a match between a pair of agents is the sum of the two productivity terms, each of which depends only on the type (but not the identity) of one of the agents, and a third deterministic ter...
-
作者：Shin, Dongwook; Broadie, Mark; Zeevi, Assaf
作者单位：Hong Kong University of Science & Technology; Columbia University
摘要：We consider a problem of ordinal optimization where the objective is to select the best of several competing alternatives (systems) when the probability distributions governing each system's performance are not known but can be learned via sampling. The objective is to dynamically allocate samples within a finite sampling budget to minimize the probability of selecting a system that is not the best. This objective does not possess an analytically tractable solution. We introduce a family of pr...
-
作者：Zhang, Huanan; Chao, Xiuli; Shi, Cong
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of Michigan System; University of Michigan
摘要：We develop the first nonparametric learning algorithm for periodic-review perishable inventory systems. In contrast to the classical perishable inventory literature, we assume that the firm does not know the demand distribution a priori and makes replenishment decisions in each period based only on the past sales (censored demand) data. It is well known that even with complete information about the demand distribution a priori, the optimal policy for this problem does not possess a simple stru...
-
作者：Flajolet, Arthur; Blandin, Sebastien; Jaillet, Patrick
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：We consider the problem of finding an optimal history-dependent routing strategy on a directed graph weighted by stochastic arc costs when the objective is to minimize the risk of spending more than a prescribed budget. To help mitigate the impact of the lack of information on the arc cost probability distributions, we introduce a robust counterpart where the distributions are only known through confidence intervals on some statistics such as the mean, the mean absolute deviation, and any quan...
-
作者：Podinovski, Victor V.; Olesen, Ole Bent; Sarrico, Claudia S.
作者单位：Loughborough University; University of Southern Denmark; Universidade de Lisboa
摘要：We develop a nonparametric methodology for assessing the efficiency of decision-making units operating in a production technology with several component processes. The latter is modeled by the new multiple hybrid returns-to-scale (MHRS) technology, formally derived from an explicitly stated set of production axioms. In contrast with the existing models of data envelopment analysis (DEA), the MHRS technology allows the incorporation of component-specific and shared inputs and outputs that repre...
-
作者：Sun, Longsheng; Karwan, Mark H.; Kwon, Changhyun
作者单位：State University of New York (SUNY) System; University at Buffalo, SUNY; State University System of Florida; University of South Florida
摘要：Often, network users are not perfectly rational, especially when they are satisficing-rather than optimizing-decision makers and each individual's perception of the decision environment reflects personal preferences or perception errors due to lack of information. While the assumption of satisficing drivers has been used in modeling route choice behavior, this research uses a link-based perception error model to describe driver's uncertain behavior, without assuming stochasticity. In congestio...
-
作者：Li, Jonathan Yu-Meng
作者单位：University of Ottawa
摘要：Worst-case risk measures provide a means of calculating the largest value of risk when only partial information of the underlying distribution is available. For popular risk measures such as value-at-risk (VaR) and conditional value-at-risk (CVaR) it is now known that their worst-case counterparts can be evaluated in closed form when only the first two moments are known. We show in this paper that closed-form solutions exist for a general class of law invariant coherent risk measures, which co...
