学术前沿讲座--Consumer Choice and Market Expansion: Modeling, Optimization and Estimation
发布时间: 2018-12-21

报告题目

Consumer  Choice and Market Expansion: Modeling, Optimization and Estimation

报告人(单位)

Ruxian Wang(王汝现)
Johns  Hopkins University Carey Business School

点评人(单位)

薛巍立(东南大学)

点评人(单位)

李四杰(东南大学)

时间地点

时间:20181225 日(周二 )下午15  

地点:九龙湖经管楼B-201

报告内容摘要

  

  

报告内容:

Market size,  measured by the number of people who are interested in the products from the  same category, may be highly influenced by the management strategy of  assortment planning and pricing in some scenarios. This effect is referred to  as market expansion. In this paper, we incorporate the market expansion effects  into consumer choice models and investigate assortment and pricing problems.  In particular, we take the widely used multinomial logit model as a showcase  to examine the market expansion effects on assortment planning and pricing,  and also propose an alternating-optimization expectation-maximization method,  which separates the estimations of consumer choice behavior and the market  expansion effects, to calibrate the new model. Our empirical study on  synthetic and real data sets shows the efficiency of our estimation method and  the importance of incorporating the market expansion effects into consumer  choice models. Failure to account for the market expansion effects may lead  to substantial losses in demand estimation and operations management.

报告人简介:

Dr. Ruxian Wang is current an  associate professor at Johns Hopkins University, Carey Business School.  Before returning to academia, he worked in Hewlett-Packard Company for  several years as a research scientist. He received Ph.D. from Columbia University,  M.S. and B.S. from Nanjing University. His research and teaching interests  include operations management, revenue management, pricing, consumer choice  models, data-driven decision making. His articles appeared in several  flagship journals in his filed, such as Management ScienceOperations ResearchManufacturing & Service  Operations ManagementProduction and  Operations Management