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作者：Zhong, Ying; Hong, L. Jeff; Liu, Guangwu
作者单位：University of Electronic Science & Technology of China; Fudan University; Fudan University; City University of Hong Kong
摘要：We study a dynamic pricing problem where the observed cost in each selling period varies from period to period, and the demand function is unknown and only depends on the price. The decision maker needs to select a price from a menu of K prices in each period to maximize the expected cumulative profit. Motivated by the classical upper confidence bound (UCB) algorithm for the multi-armed bandit problem, we propose a UCB-Like policy to select the price. When the cost is a continuous random varia...
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作者：Wang, Yining; Chen, Xi; Chang, Xiangyu; Ge, Dongdong
作者单位：State University System of Florida; University of Florida; New York University; Xi'an Jiaotong University; Shanghai University of Finance & Economics
摘要：Data-driven sequential decision has found a wide range of applications in modern operations management, such as dynamic pricing, inventory control, and assortment optimization. Most existing research on data-driven sequential decision focuses on designing an online policy to maximize revenue. However, the research on uncertainty quantification on the underlying true model function (e.g., demand function), a critical problem for practitioners, has not been well explored. In this study, using th...
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作者：Chen, Li
作者单位：Cornell University
摘要：A phantom stockout is a retail stockout phenomenon caused by unobserved inventory shrinkage. Unlike conventional stockouts that can be corrected by inventory replenishment, a phantom stockout persists and requires human inspection. In this study, we formulate such a problem as an infinite-horizon Bayesian dynamic program with joint inventory inspection and replenishment decisions. This problem is challenging to solve due to non-convexity and high dimensionality. However, we find that under the...
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作者：Sahinyazan, Feyza G.; Rancourt, Marie-Eve; Verter, Vedat
作者单位：Simon Fraser University; Universite de Montreal; HEC Montreal; Michigan State University; Michigan State University's Broad College of Business
摘要：Aid agencies implement food aid programs to alleviate chronic hunger. These agencies can choose direct, in-kind distribution of food commodities, or they can provide cash or vouchers. To determine which aid modality to use for distributing aid, organizations currently use decision trees or other guidelines. In this study, we present a novel mathematical formulation to determine the optimal approach for allocating modalities and quantities of aid to beneficiaries, while also considering the ben...
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作者：Fang, Xiang; Ru, Jun; Wang, Yunzeng
作者单位：University of Wisconsin System; University of Wisconsin Milwaukee; University System of Ohio; Cleveland State University; University of California System; University of California Riverside
摘要：Motivated by the newest contract offered by Amazon.com, called the Advantage Program, we study a supply chain where a retailer offers a vendor-managed inventory with consignment contract to n suppliers for selling their products. A key parameter in the contract is the product list price that the retailer allows each supplier to choose for its own product. The retailer then sets the retail price of each product at or below its list price for selling it to the market and remits its supplier an a...
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作者：Wani, Deepa; Malhotra, Manoj; Clark, Jonathan
作者单位：University System of Georgia; Georgia State University; University System of Ohio; Case Western Reserve University; University of Texas System; University of Texas at San Antonio
摘要：Services are typically characterized by the direct participation of customers in the production process. The service-dominant (S-D) logic argues that value to consumers is always co-created by service providers and consumers jointly and reciprocally. While prior research has addressed the indirect impact of structural, infrastructural, and technology service design attributes on a customer's perceived value via the realized service delivery system, an important question remains unanswered: Do ...
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作者：Kasapidis, Gregory A.; Paraskevopoulos, Dimitris C.; Repoussis, Panagiotis P.; Tarantilis, Christos D.
作者单位：Athens University of Economics & Business; University of London; Athens University of Economics & Business
摘要：A common assumption in the shop scheduling literature is that the processing order of the operations of each job is sequential; however, in practice, there can be multiple connections and finish-to-start dependencies among the operations of each job. This paper studies flexible job shop scheduling problems with arbitrary precedence graphs. Rigorous mixed integer and constraint programming models are presented, as well as an evolutionary algorithm is proposed to solve large-scale problems. The ...
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作者：Koca, Esma; Valletti, Tommaso; Wiesemann, Wolfram
作者单位：Imperial College London
摘要：When releasing a new version of a durable product, a firm aims to attract new customers as well as persuade its existing customer base to upgrade. This is commonly achieved through a rollover strategy, which comprises the price of the new product as well as the decision to discontinue the sale of the existing product (solo rollover) or to sell the existing product at a discounted price (dual rollover). In this study, we argue that the timing of the new product release is an important-but commo...
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作者：Lee, Chung-seung; Cakanyildirim, Metin
作者单位：University of Texas System; University of Texas Dallas
摘要：This study is motivated by a fundamental question among researchers: do price data correspond to a pure strategy Nash equilibrium of an estimated econometric model of Bertrand competition? The affirmative answer to this question is essential for validating the estimated model. Despite the extensive empirical applications of Bertrand competition over the last three decades, answering the question remains a daunting task for the researchers. This study takes a step to fill this gap, identifying ...
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作者：Ning, Jie
作者单位：University System of Ohio; Case Western Reserve University
摘要：Markov decision processes (MDPs) provide a powerful framework for analyzing dynamic decision making. However, their applications are significantly hindered by the difficulty of obtaining solutions. In this study, we introduce reducible MDPs whose exact solutions can be obtained by solving simpler MDPs, termed the coordinate MDPs. The value function and an optimal policy of a reducible MDP are linear functions of those of the associated coordinate MDP. Because the coordinate MDP does not involv...
