Dynamic Assortment Optimization with a Multinomial Logit Choice Model and Capacity Constraint
نویسندگان
چکیده
منابع مشابه
Dynamic Assortment Optimization with a Multinomial Logit Choice Model and Capacity Constraint
The paper considers a stylized model of a dynamic assortment optimization problem, where given a limited capacity constraint, we must decide the assortment of products to offer to customers to maximize the profit. Our model is motivated by the problem faced by retailers of stocking products on a shelf with limited capacities and by the problem of placing a limited number of ads on a web page. W...
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Motivated by e-commerce, we study the online assortment optimization problem. The seller offers an assortment, i.e. a subset of products, to each arriving customer, who then purchases one or no product from her offered assortment. A customer’s purchase decision is governed by the underlyingMultiNomial Logit (MNL) choice model. The seller aims to maximize the total revenue in a finite sales hori...
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We consider assortment optimization problems under the multinomial logit model, where the parameters of the choice model are random. The randomness in the choice model parameters is motivated by the fact that there are multiple customer segments, each with different preferences for the products, and the segment of each customer is unknown to the firm when the customer makes a purchase. This cho...
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We study the assortment optimization problem under the Sequential Multinomial Logit (SML), a discrete choice model that generalizes the multinomial logit (MNL). Under the SML model, products are partitioned into two levels, to capture differences in attractiveness, brand awareness and, or visibility of the products in the market. When a consumer is presented with an assortment of products, she ...
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ژورنال
عنوان ژورنال: Operations Research
سال: 2010
ISSN: 0030-364X,1526-5463
DOI: 10.1287/opre.1100.0866