(Rescaled) Multi‐Attempt Approximation of Choice Model and Its Application to Assortment Optimization

When designing an assortment, a fundamental trade‐off exists between estimating consumer behavior more precisely and solving the corresponding optimization problem efficiently. For instance, a mixture of logit model can closely approximate any random‐utility choice model; however, it is not suitable...

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Veröffentlicht in:	Production and operations management 2019-02, Vol.28 (2), p.341-353
Hauptverfasser:	Chung, Hakjin, Ahn, Hyun‐Soo, Jasin, Stefanus
Format:	Artikel
Sprache:	eng
Schlagworte:	Approximation assortment optimization choice model Consumer behavior Economic models marketing analytic Markov analysis microsegmentation Optimization revenue management
Online-Zugang:	Volltext
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