Related papers: Computing Prices for Target Profits in Contracts
The determination of acceptability prices of contingent claims requires the choice of a stochastic model for the underlying asset price dynamics. Given this model, optimal bid and ask prices can be found by stochastic optimization. However,…
Efficiently allocating treatments with a budget constraint constitutes an important challenge across various domains. In marketing, for example, the use of promotions to target potential customers and boost conversions is limited by the…
Motivated by applications where a system must remain operational via continual procurement of contracts, we study two online contract selection problems under uncertain prices. At each time step, a price drawn from a known distribution is…
The availability of public computing resources in the cloud has revolutionized data analysis, but requesting cloud resources often involves complex decisions for consumers. Under the current pricing mechanisms, cloud service providers offer…
We distinguished between the expected and actual profit of a firm. We proposed that, beyond maximizing profit, a firm's goal also encompasses minimizing the gap between expected and actual profit. Firms strive to enhance their capability to…
We propose an online pricing mechanism for electric vehicle (EV) charging. A charging station decides prices for each arriving EV depending on the energy and the time within which the EV will be served (i.e. deadline). The user selects…
Pricing schemes are an important smart grid feature to affect typical energy usage behavior of energy users (EUs). However, most existing schemes use the assumption that a buyer pays the same price per unit of energy to all suppliers at any…
I consider the optimal hourly (or per-unit-time in general) pricing problem faced by a freelance worker (or a service provider) on an on-demand service platform. Service requests arriving while the worker is busy are lost forever. Thus, the…
This paper develops a novel method to estimate firm-specific market-entry thresholds in international economics, allowing fixed costs to vary across firms alongside productivity. Our framework models market entry as an interaction between…
The ultimate goal of any software developer seeking a competitive edge is to meet stakeholders needs and expectations. To achieve this, it is necessary to effectively and accurately manage stakeholders system requirements. The paper…
This paper addresses a novel data science problem, prescriptive price optimization, which derives the optimal price strategy to maximize future profit/revenue on the basis of massive predictive formulas produced by machine learning. The…
A simple advertising strategy that can be used to help increase sales of a product is to mail out special offers to selected potential customers. Because there is a cost associated with sending each offer, the optimal mailing strategy…
In mechanism design it is typical to impose incentive compatibility and then derive an optimal mechanism subject to this constraint. By replacing the incentive compatibility requirement with the goal of minimizing expected ex post regret,…
Prediction markets are long known for prediction accuracy. This study systematically explores the fundamental properties of prediction markets, addressing questions about their information aggregation process and the factors contributing to…
In many markets, like electricity or cloud computing markets, providers incur large costs for keeping sufficient capacity in reserve to accommodate demand fluctuations of a mostly fixed user base. These costs are significantly affected by…
We describe a novel framework for discrete choice modeling and price optimization for settings where scheduled service options (often hierarchical) are offered to customers, which is applicable across many businesses including some within…
As more and more users begin to use the cloud for their computing needs, datacenter operators are increasingly pressed to effectively allocate their resources among these client users. Yet while much work has been done in this area,…
Pricing is an important issue in mobile edge computing. How to appropriately determine the bid of end user (EU) is an incentive factor for edge cloud (EC) to offer service. In this letter, we propose an equilibrium pricing scheme based on…
I characterize the consumer-optimal market segmentation in competitive markets where multiple firms selling differentiated products to consumers with unit demand. This segmentation is public---in that each firm observes the same market…
In this paper we formulate the fixed budget resource allocation game to understand the performance of a distributed market-based resource allocation system. Multiple users decide how to distribute their budget (bids) among multiple machines…