Assortment optimization under the multinomial logit choice model with product-specific capacities

We consider assortment optimization with product-specific capacities under the multinomial logit (MNL) choice model, wherein each product has a finite capacity, i.e., a limited number of units for sale. The number of customers served by each product is the smaller of its demand and capacity. We assu...

Celý popis

Uložené v:
Podrobná bibliografia
Vydané v:Operations research letters Ročník 59; s. 107238
Hlavní autori: Huh, Woonghee Tim, Liu, Siyue
Médium: Journal Article
Jazyk:English
Vydavateľské údaje: Elsevier B.V 01.03.2025
Predmet:
Assortment optimization
Fully polynomial-time approximation scheme (FPTAS)
Product-specific capacities
Fully polynomial-time approximation scheme (FPTAS)
Assortment optimization
Product-specific capacities
ISSN:0167-6377
On-line prístup:Získať plný text
Tagy: Pridať tag
Žiadne tagy, Buďte prvý, kto otaguje tento záznam!
Popis
Shrnutí:We consider assortment optimization with product-specific capacities under the multinomial logit (MNL) choice model, wherein each product has a finite capacity, i.e., a limited number of units for sale. The number of customers served by each product is the smaller of its demand and capacity. We assume the demand of each product is deterministic as a function of the assortment offered. We show that this assortment optimization problem is NP-hard. We devise a 1/2-approximation algorithm and a fully polynomial-time approximation scheme (FPTAS) by exploiting its connection to a series of knapsack problems.
ISSN:0167-6377
DOI:10.1016/j.orl.2024.107238