Time-Constrained Restless Bandits and the Knapsack Problem for Perishable Items (Extended Abstract)
نویسندگان
چکیده
منابع مشابه
Time-Constrained Restless Bandits and the Knapsack Problem for Perishable Items (Extended Abstract)
Motivated by a food promotion problem, we introduce the Knapsack Problem for Perishable Items (KPPI) to address a dynamic problem of optimally filling a knapsack with items that disappear randomly. The KPPI naturally bridges the gap and elucidates the relation between the pspace-hard restless bandit problem and the np-hard knapsack problem. Our main result is a problem decomposition method resu...
متن کاملTime-Constrained Restless Bandits and the Knapsack Problem for Perishable Items
Motivated by a food promotion problem, we introduce the Knapsack Problem for Perishable Items (KPPI) to address a dynamic problem of optimally filling a knapsack with items that disappear randomly. The KPPI naturally bridges the gap and elucidates the relation between the pspace-hard restless bandit problem and the np-hard knapsack problem. Our main result is a problem decomposition method resu...
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In this paper we introduce the knapsack problem for perishable inventories concerning the optimal dynamic allocation of a collection of products to a limited knapsack. The motivation for designing such a problem comes from retail revenue management, where different products often have an associated lifetime during which they can only be sold, and the managers can regularly select some products ...
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Senior managers in retail industry make important decisions upon assortment planning, product pricing, and product promotion. While product assortment is a strategic decision taken over a long-term planning period (Kök et al., 2006), the latter two are both strategic and tactical: they can be used in dayto-day marketing decisions to dynamically adjust to demand variations. Within the food retai...
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In this paper we propose an approach for solving problems of optimal resource capacity allocation to a collection of stochastic dynamic competitors. In particular, we introduce the knapsack problem for perishable items, which concerns the optimal dynamic allocation of a limited knapsack to a collection of perishable or non-perishable items. We formulate the problem in the framework of Markov de...
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ژورنال
عنوان ژورنال: Electronic Notes in Discrete Mathematics
سال: 2007
ISSN: 1571-0653
DOI: 10.1016/j.endm.2007.01.021