A major obstacle in data mining applications is the gap between the statistic-based pattern extraction and the value-based decision making. We present a profit mining approach to reduce this gap. In profit mining, we are given a set of past transactions and pre-selected target items, and we like to build a model for recommending target items and promotion strategies to new customers, with the g...

The growth of the sharing economy is driven by the emergence of sharing platforms, e.g., Uber and Lyft, that match owners looking to share their resources with customers looking to rent them. The design of such platforms is a complex mixture of economics and engineering, and how to “optimally”design such platforms is still an open problem. In this paper, we focus on the design of prices and sub...

This paper evaluates the pricing and ordering policies of a retailer, facing a price-dependent stochastic demand, within a newsvendor framework, under different degrees of risk tolerance and under a variety of optimizing objectives. These are (i) maximizing expected profit, for a retailer who may be risk-seeker, riskaverse or risk neutral; (ii) deriving a maximin strategy of maximizing a minimu...

Ugly foods meet nutritional and safety benchmarks but deviate from cosmetic size standards. The marketability of ugly food is a major factor that frustrates field-level rescue efforts. We investigate opportunities to promote in way converts uniform negative preferences towards more diverse horizontally differentiated where some consumers prefer standard offerings pay premium. conduct an online ...

This study explores the equilibrium outcomes in the contexts of quantity-setting and price-setting mixed duopolies with consistent conjectures of both the social welfare maximizing public firm and the relative profit maximizing private firm. Similar to the private duopoly composed of only relative profit maximizing firms, we show that in the mixed duopoly, the equilibrium outcomes in the quanti...

  The present study is an attempt towards remodeling cost, revenue and profit relationship within the network process. The previous models of Data Envelopment Analysis (DEA) have been too general in their scope and focused on the input and the output within a black box system, therefore they have not been able to measure various phases simultaneously within a network system. By using these mod...