报告题目：The Threshold Effects on Consumer Choice: Modeling, Pricing, Assortment Planning and Estimation
报告人：王汝现 约翰霍普金斯大学
报告时间：2022年10月26日(周三) 10:00-11:30
讲座地点：中国科学院大学中关村校区教学楼S406； 腾讯会议ID：337 514 023
Zoom：951 173 1546 入会密码：80087
内容摘要
In this talk, we discuss the threshold effects on the consideration set formation for consumers and the associated operations decisions for firms. Under the threshold effects, consumers first form their (heterogeneous) consideration set: If an alternative with significantly low utility is dominated by another one, it will not be included in the consideration set. We develop a maximum likelihood based estimation to calibrate the proposed threshold model and further establish its statistical properties such as consistency and asymptotic normality under mild conditions. An efficient EM algorithm is also developed to handle the scenario with incomplete sales data. For the pricing problem, we show the quasi-same-markup/same-utility policy is optimal; for the price competition, there may exist zero, one, two, or infinite Nash equilibria, depending on the magnitude of the threshold effects. In addition, we characterize the optimal strategies and provide efficient solutions for the associated assortment optimization problems under the threshold effects.
主讲人简介
Dr. Ruxian Wang is a Professor with tenure at Johns Hopkins University, Carey Business School. He received Ph.D. from Columbia University. Before returning to academia, he worked in Hewlett-Packard Company for several years as a research scientist. His research and teaching interests include operations management, revenue management, pricing, discrete choice models, data-driven decision making. His articles appeared in the flagship journals in his field, such as Management Science, Manufacturing & Service Operations Management, Operations Research, Production and Operations Management.
