MSIS Seminar

Resource Constrained Revenue Management with Demand Learning and Large Action Spaces

09 Mar
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2022-10-07T16:00:00 2022-10-14T16:00:00 2022-10-21T16:00:00 2022-10-28T16:00:00 2022-11-04T16:00:00 2022-11-11T16:00:00 2022-11-18T16:00:00 2023-03-09T11:00:00 2022-10-07T17:00:00 2022-10-14T17:00:00 2022-10-21T17:00:00 2022-10-28T17:00:00 2022-11-04T17:00:00 2022-11-11T17:00:00 2022-11-18T17:00:00 2023-03-09T00:30:00

Online

Online

In this talk, I will present my recent works on resource-constrained revenue management with demand learning and large action spaces. We study a class of well-known RM problems such as dynamic pricing and assortment optimization subject to non-replenishable inventory constraints, where demand or choice model information is unknown a priori and needs to be estimated, and the action spaces (price vectors, assortments) are large. We present a general primal-dual optimization algorithm with upper confidence bounds to achieve optimal asymptotic regret. We also extend this result to nonparametric demand modeling in network revenue management problems via a robust ellipsoid method.


If you have any further questions, please contact Jalaj Upadhyay at jalaj.upadhyay@rutgers.edu