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SC3 - RM3: Choice model and assortment optimization 2
Time:
Sunday, 25/June/2023:
SC 13:00-14:30
Location:International II
3rd floor
Presentations
Assortment optimization under multiple-discrete customer choices
Heng Zhang1, Hossein Piri2, Woonghee Tim Huh3, Hongmin Li1
1Arizona State University, United States of America; 2University of Calgary, Canada; 3University of British Columbia, Canada
We consider an assortment optimization problem where the customer may purchase multiple products and possibly more than one unit of each product. We adopt the customer consumption model based on the multiple-discrete-choice (MDC) model. We present an algorithmic framework that delivers near-optimal algorithms for different variations of the assortment problem.
Discrete choice via sequential search
Natalia Kosilova2, Aydin Alptekinoglu1
1The Pennsylvania State University, United States of America; 2The Oracle Labs
Essentially every choice involves an information collection or search phase prior to a decision-making phase. To study how these phases interact, we embed the Exponomial Choice model (Alptekinoglu and Semple 2016) in a classical model of sequential search with perfect recall (Weitzman 1979). We derive the search path and final choice probabilities in closed form and develop all the analytical tools to enable joint optimization of assortment and prices efficiently.
Leveraging consensus effect to optimize ranking in online discussion boards
Gad Allon1, Joseph Carlstein1, Yonatan Gur2
1University of Pennsylvania, The Wharton School; 2Stanford Graduate School of Business
Online discussion platforms facilitate remote discussions between users. This paper explores the impact of consensus on engagement and proposes algorithms to optimize rankings. Consensus is identified as a crucial engagement driver, and our proposed algorithm outperformed current approaches in an experiment. Promoting debate over echo chambers, consensus is essential for user engagement and platform design.