Related papers: Shelf space strategy in long-tail markets
Nowadays, with the increase in the amount of information generated in the webspace, many web service providers try to use recommender systems to personalize their services and make accessing the content convenient. Recommender systems that…
We show that filling an order with a large number of distinct counterparts incurs additional market impact, as opposed to filling the order with a small number of counterparts. For best execution, therefore, it may be beneficial to…
We study economies where consumers interact independently with many monopolists. When consumer valuations over goods are correlated, correlation can distort the induced distribution of consumer surplus (information rents). We identify which…
Rankings have become the primary interface in two-sided online markets. Many have noted that the rankings not only affect the satisfaction of the users (e.g., customers, listeners, employers, travelers), but that the position in the ranking…
Inventory management in warehouses directly affects profits made by manufacturers. Particularly, large manufacturers produce a very large variety of products that are handled by a significantly large number of retailers. In such a case, the…
The problem of identifying the optimal location for a new retail store has been the focus of past research, especially in the field of land economy, due to its importance in the success of a business. Traditional approaches to the problem…
The long-tail phenomenon tells us that there are many items in the tail. However, not all tail items are the same. Each item acquires different kinds of users. Some items are loved by the general public, while some items are consumed by…
The two-sided markets such as ride-sharing companies often involve a group of subjects who are making sequential decisions across time and/or location. With the rapid development of smart phones and internet of things, they have…
We investigate the probability distribution of order imbalance calculated from the order flow data of 43 Chinese stocks traded on the Shenzhen Stock Exchange. Two definitions of order imbalance are considered based on the order number and…
Assortment optimization is a critical tool for online retailers aiming to maximize revenue. However, optimizing purely for revenue can lead to unbalanced sales across products, potentially causing a long tail of low-selling products and…
In this work, we analyze the spatio-temporal economic properties of multi-product supply chains. Specifically, we interpret the supply chain as a coordinated market in which stakeholders (suppliers, consumers, and providers of…
A novel high-frequency market-making approach in discrete time is proposed that admits closed-form solutions. By taking advantage of demand functions that are linear in the quoted bid and ask spreads with random coefficients, we model the…
Online fashion sales present a challenging use case for personalized recommendation: Stores offer a huge variety of items in multiple sizes. Small stocks, high return rates, seasonality, and changing trends cause continuous turnover of…
The paper presents some distributional properties of logistic order statistics subject to independent exponential one-sided and two-sided shifts. Utilizing these properties, we extend several known results and obtain some new…
This review paper explores the evolution of discussions about "long-tail" scientific data in the scholarly literature. The "long-tail" concept, originally used to explain trends in digital consumer goods, was first applied to scientific…
Data center electricity use may reach 12% of U.S. demand by 2030, alongside growing ability to shift workloads geographically in response to prices or carbon signals. We examine the system-level implications of such strategic flexibility…
With the development of the Internet, new kinds of massive epidemics, distributed attacks, virtual conflicts and criminality have emerged. We present a study of some striking statistical properties of cyber-risks that quantify the…
Sellers in online markets face the challenge of determining the right time to sell in view of uncertain future offers. Classical stopping theory assumes that sellers have full knowledge of the value distributions, and leverage this…
We propose a stochastic process driven by the memory effect with novel distributions which include both exponential and leptokurtic heavy-tailed distributions. A class of the distributions is analytically derived from the continuum limit of…
Digital transformation forces companies to rethink their processes to meet current customer needs. Business Process Management (BPM) can provide the means to structure and tackle this change. However, most approaches to BPM face…