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作者：Abbas, Ali E.; Sun, Zhengwei
作者单位：University of Southern California; University of Southern California; University of Southern California; East China University of Science & Technology
摘要：The construction of a multiattribute utility function is an important step in decision analysis. One of the most widely used conditions for constructing the utility function is the assumption of mutual preferential independence where trade-offs among any subset of the attributes do not depend on the instantiations of the remaining attributes. Mutual preferential independence asserts that ordinal preferences can be represented by an additive function of the attributes. This paper derives the mo...
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作者：Cooper, William L.; Homem-de-Mello, Tito; Kleywegt, Anton J.
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Universidad Adolfo Ibanez; University System of Georgia; Georgia Institute of Technology
摘要：In revenue management research and practice, demand models are used that describe how demand for a seller's products depends on the decisions, such as prices, of that seller. Even in settings where the demand for a seller's products also depends on decisions of other sellers, the models often do not explicitly account for such decisions. It has been conjectured in the revenue management literature that such monopoly models may incorporate the effects of competition, because the parameter estim...
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作者：Wu, Shining; Liu, Qian; Zhang, Rachel Q.
作者单位：Hong Kong Polytechnic University; Hong Kong University of Science & Technology
摘要：We consider a retailer that sells the same or different versions of the product season after season. At the beginning of each season (stage 1), the retailer places an order and sells the product at the full price. As the sales unfold, the retailer has an opportunity to mark down the price (stage 2), which creates an incentive for strategic consumers to delay their purchases for price discount. However, consumers do not know the markdown price exactly when they time their purchases; instead, th...
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作者：Rhee, Chang-Han; Glynn, Peter W.
作者单位：University System of Georgia; Georgia Institute of Technology; Stanford University
摘要：In many settings in which Monte Carlo methods are applied, there may be no known algorithm for exactly generating the random object for which an expectation is to be computed. Frequently, however, one can generate arbitrarily close approximations to the random object. We introduce a simple randomization idea for creating unbiased estimators in such a setting based on a sequence of approximations. Applying this idea to computing expectations of path functionals associated with stochastic differ...
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作者：Shi, Yun; Cui, Xiangyu; Yao, Jing; Li, Duan
作者单位：Shanghai University; Shanghai University of Finance & Economics; Fudan University; Chinese University of Hong Kong
摘要：We formalize the reference point adaptation process by relating it to a way people perceive prior gains and losses. We then develop a dynamic trading model with reference point adaptation and loss aversion, and derive its semi-analytical solution. The derived optimal stock holding has an asymmetric V-shaped form with respect to prior outcomes, and the related sensitivities are directly determined by the sensitivities of reference point shifts with respect to the outcomes. We also find that the...
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作者：Levi, Retsef; Perakis, Georgia; Uichanco, Joline
作者单位：Massachusetts Institute of Technology (MIT); University of Michigan System; University of Michigan
摘要：Consider the newsvendor model, but under the assumption that the underlying demand distribution is not known as part of the input. Instead, the only information available is a random, independent sample drawn from the demand distribution. This paper analyzes the sample average approximation (SAA) approach for the data-driven newsvendor problem. We obtain a new analytical bound on the probability that the relative regret of the SAA solution exceeds a threshold. This bound is significantly tight...
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作者：Qu, Huashuai; Ryzhov, Ilya O.; Fu, Michael C.; Ding, Zi
作者单位：University System of Maryland; University of Maryland College Park; University System of Maryland; University of Maryland College Park
摘要：We create the first computationally tractable Bayesian statistical model for learning unknown correlation structures in fully sequential simulation selection. Correlations represent similarities or differences between various design alternatives and can be exploited to extract much more information from each individual simulation. However, in most applications, the correlation structure is unknown, thus creating the additional challenge of simultaneously learning unknown mean performance value...
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作者：Dong, Jing; Feldman, Pnina; Yom-Tov, Galit B.
作者单位：Northwestern University; University of California System; University of California Berkeley; Technion Israel Institute of Technology
摘要：Many service systems exhibit service slowdowns when the system is congested. Our goal in this paper is to investigate this phenomenon and its effect on system performance. We modify the Erlang-A model to account for service slowdowns and carry out the performance analysis in the quality-and efficiencydriven (QED) regime. We find that when the load sensitivity is low, the system can achieve QED performance, but the square-root staffing parameter requires an adjustment to achieve the same perfor...
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作者：Aravindakshan, Ashwin; Naik, Prasad A.
作者单位：University of California System; University of California Davis
摘要：Extant models assume that awareness decline commences instantly. In contrast, we incorporate the possibility that awareness declines with a delay due to the memory for advertisements. To this end, we use delay differential equations to understand the evolution of awareness in the presence of ad memorability. This extended model generates optimal advertising policies that include the even spending policy, blitz policy, and various cyclic pulsing policies, depending on whether ad memorability ex...
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作者：Chen, Lucy Gongtao; Robinson, Lawrence W.; Roundy, Robin O.; Zhang, Rachel Q.
作者单位：National University of Singapore; Cornell University; Brigham Young University; Hong Kong University of Science & Technology
摘要：In today's business environment, unpredictable economic and noneconomic forces can affect firms' operational costs and discount factors, as well as demand. In this paper, we incorporate these uncertainties into a single-product, periodic-review, finite-horizon stochastic inventory system by modeling operational costs, discount factors, and demands as stochastic processes that evolve over time. We study three stockout protocols and establish conditions under which (s, S) inventory policies are ...
