期刊
OPERATIONS RESEARCH LETTERS
卷 40, 期 6, 页码 492-497出版社
ELSEVIER SCIENCE BV
DOI: 10.1016/j.orl.2012.08.003
关键词
Multinomial logit model; Assortment optimization; Multi-product price optimization; Efficient assortment
We consider an assortment and price optimization problem where a retailer chooses an assortment of competing products and determines their prices to maximize the total expected profit subject to a capacity constraint. Customers' purchase behavior follows the multinomial logit choice model with general utility functions. This paper simplifies it to a problem of finding a unique fixed point of a single-dimensional function and visualizes the assortment optimization process. An efficient algorithm to find the optimal assortment and prices is provided. (C) 2012 Elsevier B.V. All rights reserved.
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