报告题目 | Consumer Choice and Market Expansion: Modeling, Optimization and Estimation | ||
报告人(单位) | Ruxian Wang(王汝现) | ||
点评人(单位) | 薛巍立(东南大学) | 点评人(单位) | 李四杰(东南大学) |
时间地点 | 时间:2018年12月 25 日(周二 )下午15 点 地点:九龙湖经管楼B-201 | ||
报告内容摘要 |
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报告内容: Market size, measured by the number of people who are interested in the products from the same category, may be highly influenced by the management strategy of assortment planning and pricing in some scenarios. This effect is referred to as market expansion. In this paper, we incorporate the market expansion effects into consumer choice models and investigate assortment and pricing problems. In particular, we take the widely used multinomial logit model as a showcase to examine the market expansion effects on assortment planning and pricing, and also propose an alternating-optimization expectation-maximization method, which separates the estimations of consumer choice behavior and the market expansion effects, to calibrate the new model. Our empirical study on synthetic and real data sets shows the efficiency of our estimation method and the importance of incorporating the market expansion effects into consumer choice models. Failure to account for the market expansion effects may lead to substantial losses in demand estimation and operations management. 报告人简介: Dr. Ruxian Wang is current an associate professor at Johns Hopkins University, Carey Business School. Before returning to academia, he worked in Hewlett-Packard Company for several years as a research scientist. He received Ph.D. from Columbia University, M.S. and B.S. from Nanjing University. His research and teaching interests include operations management, revenue management, pricing, consumer choice models, data-driven decision making. His articles appeared in several flagship journals in his filed, such as Management Science、Operations Research、Manufacturing & Service Operations Management、Production and Operations Management。 |