huseyin topaloglu cornell university school of orie jake feldman cornell university school of orie...
TRANSCRIPT
![Page 1: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/1.jpg)
Huseyin Topaloglu Cornell University
School of ORIE
Jake Feldman Cornell University
School of ORIE
Revenue Management under a Markov Chain Based Choice
Model
![Page 2: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/2.jpg)
Problem Description
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Markov Chain Based Choice Model
![Page 4: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/4.jpg)
Purchasing Dynamics
![Page 5: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/5.jpg)
Purchasing Dynamics
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Purchase Probabilities
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Purchase Probabilities
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Purchase Probabilities
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Motivating the MC Based Choice Model
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Static Assortment Optimization
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Static Assortment Optimization
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Static Assortment Optimization
![Page 13: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/13.jpg)
Static Assortment Optimization
![Page 14: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/14.jpg)
Static Assortment Optimization
![Page 15: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/15.jpg)
Novel LP Formulation
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Novel LP Formulation
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Property of Extreme Point
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Property of Extreme Points
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Property of Extreme Points
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Network Revenue Management
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Network Revenue Management
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Deterministic Linear Program
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Reduced Deterministic Linear Program
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Finding a Policy
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Recovering DLP Solution
![Page 26: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/26.jpg)
Recovering DLP Solution
![Page 27: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/27.jpg)
Recovering DLP Solution
![Page 28: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/28.jpg)
Recovering DLP Solution
![Page 29: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/29.jpg)
Recovering DLP Solution
![Page 30: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/30.jpg)
Recovering DLP Solution
![Page 31: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/31.jpg)
Recovering DLP Solution
![Page 32: Huseyin Topaloglu Cornell University School of ORIE Jake Feldman Cornell University School of ORIE Revenue Management under a Markov Chain Based Choice](https://reader035.vdocuments.mx/reader035/viewer/2022081519/56649da25503460f94a8ef36/html5/thumbnails/32.jpg)
Computational Experiments
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Thank you