Assortment optimization with repeated exposures and product-dependent patience cost
نویسندگان
چکیده
In this paper, we study the assortment optimization problem faced by many online retailers such as Amazon. We develop a cascade multinomial logit model , based on classic model, to capture consumers' purchasing behavior across multiple stages. Unlike most of existing studies, our allows for repeated exposures product. addition, each consumer has patience budget that is sampled from known distribution and product associated with cost which required amount cognitive efforts browsing propose an approximation solution under model.
منابع مشابه
Product Assortment Competition with the Decoy Effect
The fraction of customers who choose a particular item from among a set of available items can be increased significantly by the inclusion of a related inferior (and apparently irrelevant) item in the choice set. This violation of the independence from irrelevant alternatives and the regularity properties is called the decoy effect, dominance effect, or attraction effect. The decoy effect is on...
متن کاملAssortment optimization over time
In this note we introduce the problem of assortment optimization over time. We have a sequence of time steps and can introduce one new product per time step. Once introduced a product can not be removed. The goal is to determine which products to introduce so as to maximize revenue over all time steps under some choice model. Given a 1/α-approximation algorithm for the capacitated assortment op...
متن کاملCombinatorial Assortment Optimization
Assortment optimization refers to the problem of designing a slate of products to offer potential customers, such as stocking the shelves in a convenience store. The price of each product is fixed in advance, and a probabilistic choice function describes which product a customer will choose from any given subset. We introduce the combinatorial assortment problem, where each customer may select ...
متن کاملAssortment Optimization for Choosy Customers
We study two different choice models that capture the purchasing behavior of customers who only consider purchasing one of two substitutable products. We refer to these customers as choosy. The first choice model captures substitution behavior through probabilistic transitions between products. Under this choice model, a customer’s buying process can be captured in two steps: an arrival with th...
متن کاملProduct assortment and individual decision processes.
Research presented in this article examines the impact of product assortment on individuals' decisions. Four experiments report converging evidence that the impact of assortment is moderated by the degree to which individuals have articulated attribute preferences, whereby individuals with an articulated ideal point are more likely to prefer larger assortments than individuals without articulat...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Operations Research Letters
سال: 2022
ISSN: ['0167-6377', '1872-7468']
DOI: https://doi.org/10.1016/j.orl.2021.11.007