Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Online Learning And Pricing For Network Revenue Management With Reusable Resources
Download Online Learning And Pricing For Network Revenue Management With Reusable Resources full books in PDF, epub, and Kindle. Read online Online Learning And Pricing For Network Revenue Management With Reusable Resources ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Online Learning and Pricing for Network Revenue Management with Reusable Resources by : Huiwen Jia
Download or read book Online Learning and Pricing for Network Revenue Management with Reusable Resources written by Huiwen Jia and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a price-based network revenue management problem with multiple products and multiple reusable resources. Each randomly arriving customer requests a product (service) that needs to occupy a sequence of reusable resources (servers). We adopt an incomplete information setting where the firm does not know the price-demand function for each product and the goal is to dynamically set prices of all products to maximize the total expected revenue of serving customers. We propose novel batched bandit learning algorithms for finding near-optimal pricing policies, and show that they admit a near-optimal cumulative regret bound of $ tilde{O}(J sqrt{XT})$, where $J$, $X$, and $T$ are the numbers of products, candidate prices, and service periods, respectively. As part of our regret analysis, we develop the first finite-time mixing time analysis of an open network queueing system (i.e., the celebrated Jackson Network), which could be of independent interest. Our numerical studies show that the proposed approaches perform consistently well.
Book Synopsis Online Learning and Pricing for Service Systems with Reusable Resources by : Huiwen Jia
Download or read book Online Learning and Pricing for Service Systems with Reusable Resources written by Huiwen Jia and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a price-based revenue management problem with finite reusable resources over a finite time horizon $T$. Customers arrive following a price-dependent Poisson process and each customer requests one unit of $c$ homogeneous reusable resources. If there is an available unit, the customer gets served within a price-dependent exponentially distributed service time; otherwise, the customer waits in a queue until the next available unit. In this paper, we assume that the firm does not know how the arrival and service rates depend on posted prices, and thus it makes adaptive pricing decisions in each period based only on past observations to maximize the cumulative revenue. Given a discrete price set with cardinality $P$, we propose two online learning algorithms, termed Batch Upper Confidence Bound (BUCB) and Batch Thompson Sampling (BTS), and prove that the cumulative regret upper bound is $ tilde{O}( sqrt{PT})$, which matches the regret lower bound. In establishing the regret, we bound the transient system performance upon price changes via a novel coupling argument, and also generalize bandits to accommodate sub-exponential rewards. We also extend our approach to models with balking and reneging customers, and discuss a continuous price setting. Our numerical experiments demonstrate the efficacy of the proposed BUCB and BTS algorithms.
Book Synopsis Real-Time Dynamic Pricing for Revenue Management with Reusable Resources, Advance Reservation, and Deterministic Service Time Requirements by : Yanzhe (Murray) Lei
Download or read book Real-Time Dynamic Pricing for Revenue Management with Reusable Resources, Advance Reservation, and Deterministic Service Time Requirements written by Yanzhe (Murray) Lei and published by . This book was released on 2018 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a dynamic pricing problem in a system with reusable resources. Customers arrive randomly over time, according to a specified non-stationary rate, and each customer requests a service that uses a combination of different types of resources for a deterministic duration of time. The resources are reusable in the sense that they can be immediately used to serve a new customer upon the completion of the previous service. Our objective is to construct a dynamic pricing control that maximizes expected total revenues. This is a fundamental problem faced by firms in many industries. We develop real-time heuristic controls based on the solution of the deterministic relaxation of the original stochastic problem and show that they are near-optimal in the regime of large demand and large resource capacity. We further show that our results can be extended to a more general setting with heterogeneous service time and advance reservation.
Book Synopsis Network Revenue Management with Nonparametric Demand Learning by : Sentao Miao
Download or read book Network Revenue Management with Nonparametric Demand Learning written by Sentao Miao and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the classic price-based network revenue management (NRM) problem with demand learning. The retailer dynamically decides prices of n products over a finite selling season (of length T) subject to m resource constraints, with the purpose of maximizing the cumulative revenue. In this paper, we focus on nonparametric demand model with some mild technical assumptions which are satisfied by most of the commonly used demand functions. We propose a robust ellipsoid method adapted to the NRM setting in a non-trivial manner, and this algorithm achieves the regret O(n^{3.5} sqrt{T} ln^6(nT)). This is the first result which achieves the regret of the form O(poly(n,m, ln(T)) sqrt{T}) (where poly(n,m, ln(T)) is a polynomial function of n,m, ln(T)) in the current literature on nonparametric NRM problem. Furthermore, we demonstrate that the regret can be further improved to O(n sqrt{T} ln(nT)) given that the nonparametric demand is "nearly linear''. This improvement is achieved by a primal-dual algorithm which combines stochastic gradient descent and online convex optimization technique.
Book Synopsis Network Revenue Management with Inventory-sensitive Bid Prices and Customer Choice by : Joern Meissner
Download or read book Network Revenue Management with Inventory-sensitive Bid Prices and Customer Choice written by Joern Meissner and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Network Revenue Management with Online Inverse Batch Gradient Descent Method by : Yiwei Chen
Download or read book Network Revenue Management with Online Inverse Batch Gradient Descent Method written by Yiwei Chen and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a general class of price-based network revenue management problems that a firm aims to maximize revenue from multiple products produced with multiple types of resources endowed with limited inventory over a finite selling season. A salient feature of our problem is that the firm does not know the underlying demand function that maps prices to demand rate, which must be learned from sales data. It is well known that for almost all classes of demand functions, such as linear, exponential, multinomial logit and nested logit models, the revenue rate function is not concave in the products' prices but is concave in products' market shares (or price-controlled demand rates). This creates challenges in adopting any stochastic gradient descent based methods in the price space. We propose a novel nonparametric learning algorithm termed online inverse batch gradient descent (IGD) algorithm. This algorithm proceeds in batches. In each batch, the firm implements each product's perturbed prices, and then uses the sales information to estimate the market shares. Leveraging these estimates, the firm carries out a stochastic gradient descent step in the market share space that takes into account the relative inventory scarcity for the entire horizon, and then inversely maps the updated market shares back to the price space to obtain the prices for the next batch. Moreover, we also propose an inventory adjusted algorithm (IGD-I) that the feasible market share set is dynamically adjusted to capture the real-time relative inventory scarcity for the remaining season. For the large scale systems wherein all resources' inventories and the length of the horizon are proportionally scaled by a parameter $k$, we establish a dimension-independent regret bound of $O( k^{4/5} log k)$. This result is independent of the number of products and resources and works for continuum action-set prices and the demand functions that are only once differentiable. Our theoretical result guarantees the efficacy of both algorithms in the high dimensional systems where the number of products or resources is large and the prices are continuous. Our algorithms also numerically outperform the existing algorithms in the literature.
Book Synopsis Blind Network Revenue Management by : Omar Besbes
Download or read book Blind Network Revenue Management written by Omar Besbes and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a general class of network revenue management problems, where mean demand at each point in time is determined by a vector of prices, and the objective is to dynamically adjust these prices so as to maximize expected revenues over a finite sales horizon. A salient feature of our problem is that the decision maker can only observe realized demand over time but does not know the underlying demand function that maps prices into instantaneous demand rate. We introduce a family of “blind” pricing policies that are designed to balance trade-offs between exploration (demand learning) and exploitation (pricing to optimize revenues). We derive bounds on the revenue loss incurred by said policies in comparison to the optimal dynamic pricing policy that knows the demand function a priori, and we prove that asymptotically, as the volume of sales increases, this gap shrinks to zero.
Book Synopsis Hotel Revenue Management: From Theory to Practice by : Stanislav Ivanov
Download or read book Hotel Revenue Management: From Theory to Practice written by Stanislav Ivanov and published by Zangador. This book was released on 2014-03-15 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research monograph aims at developing an integrative framework of hotel revenue management. It elaborates the fundamental theoretical concepts in the field of hotel revenue management like the revenue management system, process, metrics, analysis, forecasting, segmentation and profiling, and ethical issues. Special attention is paid on the pricing and non-pricing revenue management tools used by hoteliers to maximise their revenues and gross operating profit. The monograph investigates the revenue management practices of accommodation establishments in Bulgaria and provides recommendations for their improvement. The book is suitable for undergraduate and graduate students in tourism, hospitality, hotel management, services studies programmes, and researchers interested in revenue/yield management. The book may also be used by hotel general managers, marketing managers, revenue managers and other practitioners looking for ways to improve their knowledge in the field.
Book Synopsis The Oxford Handbook of Pricing Management by : Özalp Özer
Download or read book The Oxford Handbook of Pricing Management written by Özalp Özer and published by OUP Oxford. This book was released on 2012-06-07 with total page 976 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Pricing Management is a comprehensive guide to the theory and practice of pricing across industries, environments, and methodologies. The Handbook illustrates the wide variety of pricing approaches that are used in different industries. It also covers the diverse range of methodologies that are needed to support pricing decisions across these different industries. It includes more than 30 chapters written by pricing leaders from industry, consulting, and academia. It explains how pricing is actually performed in a range of industries, from airlines and internet advertising to electric power and health care. The volume covers the fundamental principles of pricing, such as price theory in economics, models of consumer demand, game theory, and behavioural issues in pricing, as well as specific pricing tactics such as customized pricing, nonlinear pricing, dynamic pricing, sales promotions, markdown management, revenue management, and auction pricing. In addition, there are articles on the key issues involved in structuring and managing a pricing organization, setting a global pricing strategy, and pricing in business-to-business settings.
Book Synopsis The Internet Encyclopedia, Volume 3 (P - Z) by : Hossein Bidgoli
Download or read book The Internet Encyclopedia, Volume 3 (P - Z) written by Hossein Bidgoli and published by John Wiley & Sons. This book was released on 2004-04-12 with total page 979 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Internet Encyclopedia in a 3-volume reference work on the internet as a business tool, IT platform, and communications and commerce medium.
Book Synopsis Approximate Dynamic Programming by : Warren B. Powell
Download or read book Approximate Dynamic Programming written by Warren B. Powell and published by John Wiley & Sons. This book was released on 2007-10-05 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: A complete and accessible introduction to the real-world applications of approximate dynamic programming With the growing levels of sophistication in modern-day operations, it is vital for practitioners to understand how to approach, model, and solve complex industrial problems. Approximate Dynamic Programming is a result of the author's decades of experience working in large industrial settings to develop practical and high-quality solutions to problems that involve making decisions in the presence of uncertainty. This groundbreaking book uniquely integrates four distinct disciplines—Markov design processes, mathematical programming, simulation, and statistics—to demonstrate how to successfully model and solve a wide range of real-life problems using the techniques of approximate dynamic programming (ADP). The reader is introduced to the three curses of dimensionality that impact complex problems and is also shown how the post-decision state variable allows for the use of classical algorithmic strategies from operations research to treat complex stochastic optimization problems. Designed as an introduction and assuming no prior training in dynamic programming of any form, Approximate Dynamic Programming contains dozens of algorithms that are intended to serve as a starting point in the design of practical solutions for real problems. The book provides detailed coverage of implementation challenges including: modeling complex sequential decision processes under uncertainty, identifying robust policies, designing and estimating value function approximations, choosing effective stepsize rules, and resolving convergence issues. With a focus on modeling and algorithms in conjunction with the language of mainstream operations research, artificial intelligence, and control theory, Approximate Dynamic Programming: Models complex, high-dimensional problems in a natural and practical way, which draws on years of industrial projects Introduces and emphasizes the power of estimating a value function around the post-decision state, allowing solution algorithms to be broken down into three fundamental steps: classical simulation, classical optimization, and classical statistics Presents a thorough discussion of recursive estimation, including fundamental theory and a number of issues that arise in the development of practical algorithms Offers a variety of methods for approximating dynamic programs that have appeared in previous literature, but that have never been presented in the coherent format of a book Motivated by examples from modern-day operations research, Approximate Dynamic Programming is an accessible introduction to dynamic modeling and is also a valuable guide for the development of high-quality solutions to problems that exist in operations research and engineering. The clear and precise presentation of the material makes this an appropriate text for advanced undergraduate and beginning graduate courses, while also serving as a reference for researchers and practitioners. A companion Web site is available for readers, which includes additional exercises, solutions to exercises, and data sets to reinforce the book's main concepts.
Book Synopsis Encyclopedia of Knowledge Management, Second Edition by : Schwartz, David
Download or read book Encyclopedia of Knowledge Management, Second Edition written by Schwartz, David and published by IGI Global. This book was released on 2010-07-31 with total page 1652 pages. Available in PDF, EPUB and Kindle. Book excerpt: Knowledge Management has evolved into one of the most important streams of management research, affecting organizations of all types at many different levels. The Encyclopedia of Knowledge Management, Second Edition provides a compendium of terms, definitions and explanations of concepts, processes and acronyms addressing the challenges of knowledge management. This two-volume collection covers all aspects of this critical discipline, which range from knowledge identification and representation, to the impact of Knowledge Management Systems on organizational culture, to the significant integration and cost issues being faced by Human Resources, MIS/IT, and production departments.
Book Synopsis The Theory and Practice of Online Learning by : Terry Anderson
Download or read book The Theory and Practice of Online Learning written by Terry Anderson and published by Athabasca University Press. This book was released on 2008 with total page 485 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Neither an academic tome nor a prescriptive 'how to' guide, The Theory and Practice of Online Learning is an illuminating collection of essays by practitioners and scholars active in the complex field of distance education. Distance education has evolved significantly in its 150 years of existence. For most of this time, it was an individual pursuit defined by infrequent postal communication. But recently, three more developmental generations have emerged, supported by television and radio, teleconferencing, and computer conferencing. The early 21st century has produced a fifth generation, based on autonomous agents and intelligent, database-assisted learning, that has been referred to as Web 2.0. The second edition of "The Theory and Practice of Online Learning" features updates in each chapter, plus four new chapters on current distance education issues such as connectivism and social software innovations."--BOOK JACKET.
Book Synopsis Open educational resources: policy, costs, transformation by : Miao, Fengchun
Download or read book Open educational resources: policy, costs, transformation written by Miao, Fengchun and published by UNESCO Publishing. This book was released on 2016-04-18 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Revenue Management and Pricing Analytics by : Guillermo Gallego
Download or read book Revenue Management and Pricing Analytics written by Guillermo Gallego and published by Springer. This book was released on 2019-08-14 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: “There is no strategic investment that has a higher return than investing in good pricing, and the text by Gallego and Topaloghu provides the best technical treatment of pricing strategy and tactics available.” Preston McAfee, the J. Stanley Johnson Professor, California Institute of Technology and Chief Economist and Corp VP, Microsoft. “The book by Gallego and Topaloglu provides a fresh, up-to-date and in depth treatment of revenue management and pricing. It fills an important gap as it covers not only traditional revenue management topics also new and important topics such as revenue management under customer choice as well as pricing under competition and online learning. The book can be used for different audiences that range from advanced undergraduate students to masters and PhD students. It provides an in-depth treatment covering recent state of the art topics in an interesting and innovative way. I highly recommend it." Professor Georgia Perakis, the William F. Pounds Professor of Operations Research and Operations Management at the Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts. “This book is an important and timely addition to the pricing analytics literature by two authors who have made major contributions to the field. It covers traditional revenue management as well as assortment optimization and dynamic pricing. The comprehensive treatment of choice models in each application is particularly welcome. It is mathematically rigorous but accessible to students at the advanced undergraduate or graduate levels with a rich set of exercises at the end of each chapter. This book is highly recommended for Masters or PhD level courses on the topic and is a necessity for researchers with an interest in the field.” Robert L. Phillips, Director of Pricing Research at Amazon “At last, a serious and comprehensive treatment of modern revenue management and assortment optimization integrated with choice modeling. In this book, Gallego and Topaloglu provide the underlying model derivations together with a wide range of applications and examples; all of these facets will better equip students for handling real-world problems. For mathematically inclined researchers and practitioners, it will doubtless prove to be thought-provoking and an invaluable reference.” Richard Ratliff, Research Scientist at Sabre “This book, written by two of the leading researchers in the area, brings together in one place most of the recent research on revenue management and pricing analytics. New industries (ride sharing, cloud computing, restaurants) and new developments in the airline and hotel industries make this book very timely and relevant, and will serve as a critical reference for researchers.” Professor Kalyan Talluri, the Munjal Chair in Global Business and Operations, Imperial College, London, UK.
Book Synopsis Preparing for Blended E-learning by : Allison Littlejohn
Download or read book Preparing for Blended E-learning written by Allison Littlejohn and published by Routledge. This book was released on 2007-04-25 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covering theory where useful, but maintaining an emphasis on practice, this helpful book provides teachers and lecturers with an accessible introduction to e-learning.
Book Synopsis e-Learning by Design by : William Horton
Download or read book e-Learning by Design written by William Horton and published by John Wiley & Sons. This book was released on 2011-01-20 with total page 639 pages. Available in PDF, EPUB and Kindle. Book excerpt: From William Horton -- a world renowned expert with more than thirty-five years of hands-on experience creating networked-based educational systems -- comes the next-step resource for e-learning training professionals. Like his best-selling book Designing Web-Based Training, this book is a comprehensive resource that provides practical guidance for making the thousand and one decisions needed to design effective e-learning. e-Learning by Design includes a systematic, flexible, and rapid design process covering every phase of designing e-learning. Free of academic jargon and confusing theory, this down-to-earth, hands-on book is filled with hundreds of real-world examples and case studies from dozens of fields. "Like the book's predecessor (Designing Web-based Training), it deserves four stars and is a must read for anyone not selling an expensive solution. -- From Training Media Review, by Jon Aleckson, www.tmreview.com, 2007
