Related papers: Revenue Optimization with Price-Sensitive and Inte…
Machine learning has been used in all kinds of fields. In this article, we introduce how machine learning can be applied into time series problem. Especially, we use the airline ticket prediction problem as our specific problem. Airline…
Data as a commodity has always been purchased and sold. Recently, web services that are data marketplaces have emerged that match data buyers with data sellers. So far there are no guidelines how to price queries against a database. We…
We consider the fundamental scenario where a single item is to be sold to one of two agents. Both agents draw their valuation for the item from the same probability distribution. However, only one of them submits a bid to the mechanism. The…
This paper tackles challenges in pricing and revenue projections due to consumer uncertainty. We propose a novel data-based approach for firms facing unknown consumer type distributions. Unlike existing methods, we assume firms only observe…
We consider dynamic pricing with many products under an evolving but low-dimensional demand model. Assuming the temporal variation in cross-elasticities exhibits low-rank structure based on fixed (latent) features of the products, we show…
We study network revenue management problems motivated by applications such as railway ticket sales and hotel room bookings. Requests, each requiring a resource for a consecutive stay, arrive sequentially with known arrival probabilities.…
The minimization of the Direct Operating Cost (DOC) for hydrogen-powered aircraft is formulated in this paper as an optimal control problem and is solved based on Pontryagin's minimum principle. As a consequence, the optimum cruise flight…
We develop a model of inter-temporal and intra-temporal price discrimination by monopoly airlines to study the ability of different discriminatory pricing mechanisms to increase efficiency and the associated distributional implications. To…
Many online companies sell advertisement space in second-price auctions with reserve. In this paper, we develop a probabilistic method to learn a profitable strategy to set the reserve price. We use historical auction data with features to…
This paper discusses predictive performance and processes undertaken on flight pricing data utilizing r2(r-square) and RMSE that leverages a large dataset, originally from Expedia.com, consisting of approximately 20 million records or 4.68…
We study a classical problem in revenue management: quantity-based single-resource revenue management with no-shows. In this problem, a firm observes a sequence of $T$ customers requesting a service. Each arrival is drawn independently from…
Academic research in the field of recommender systems mainly focuses on the problem of maximizing the users' utility by trying to identify the most relevant items for each user. However, such items are not necessarily the ones that maximize…
We study revenue-optimal pricing in data markets with rational, budget-constrained buyers. Such a market offers multiple datasets for sale, and buyers aim to improve the accuracy of their prediction tasks by acquiring data bundles. The…
This work describes the orchestration of a fleet of rotary-wing Unmanned Aerial Vehicles (UAVs) for harvesting prioritized traffic from random distributions of heterogeneous users with Multiple Input Multiple Output (MIMO) capabilities. In…
A well-established technique for capturing database provenance as annotations on data is to instrument queries to propagate such annotations. However, even sophisticated query optimizers often fail to produce efficient execution plans for…
We consider Markovian many-server systems with admission control operating in a QED regime, where the relative utilization approaches unity while the number of servers grows large, providing natural Economies-of-Scale. In order to determine…
We consider the revenue maximization problem with sharp multi-demand, in which $m$ indivisible items have to be sold to $n$ potential buyers. Each buyer $i$ is interested in getting exactly $d_i$ items, and each item $j$ gives a benefit…
The intuition that profit is optimized by maximizing marginal revenue is a guiding principle in microeconomics. In the classical auction theory for agents with linear utility and single-dimensional preferences, Bulow and Roberts (1989) show…
Time or money? That is a question! In this paper, we consider this dilemma in the pricing regime, in which we try to find the optimal pricing scheme for identical items with heterogenous time-sensitive buyers. We characterize the…
On-demand transport services in the form of dial-a-ride and taxis are crucial parts of the transport infrastructure in all major cities. However, not all on-demand transport services are equal. In particular, not-for-profit dial-a-ride…