报告题目 | Multiple Purchases and Threshold Choice Models |
报告人（单位） | 王汝现 (Johns Hopkins University, Carey Business School) |
主持人（单位） | 薛巍立、陈静（东南大学） |
时间地点 | 时间：2023年6月 28日（周五）14:00 地点：九龙湖校区经管楼B201 |
报告摘要和内容： Under discrete choice models (DCMs), a decision maker is tasked with selecting a single alternative, which is appropriate for situations such as lodging, transportation, and other contexts where only one option can be chosen. However, DCMs have a limitation - they do not directly apply to multiple purchases. In practice, consumers often buy multiple products. Therefore, we propose a threshold choice model, which assumes that the representative consumer has additive utilities and aims to maximize her expected surplus while ensuring that the expected number of purchased products is bounded above by an exogenously specified number (the model can be extended to a budget constraint or to multiple constraints). We demonstrate that the basic model reduces to another where the consumer selects all products whose net utility exceeds a product-specific threshold. We also show that a common threshold is, in fact, optimal. | |
Dr. Ruxian Wang is a Professor with tenure 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. His research and teaching interests include operations management, revenue management, pricing, discrete choice models, data-driven decision making. His articles appeared in several flagship journals in his field, such as Management Science, Manufacturing & Service Operations Management, Operations Research, Production and Operations Management. | |
