On upper bounds for assortment optimization under the mixture of multinomial logit models

Kunnumkal, S (2015) On upper bounds for assortment optimization under the mixture of multinomial logit models. Operations Research Letters, 43 (2). 189 - 194.

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Abstract

Abstract The assortment optimization problem under the mixture of multinomial logit models is NP-complete and there are different approximation methods to obtain upper bounds on the optimal expected revenue. In this paper, we analytically compare the upper bounds obtained by the different approximation methods. We propose a new, tractable approach to construct an upper bound on the optimal expected revenue and show that it obtains the tightest bound among the existing tractable approaches in the literature to obtain upper bounds.

Affiliation: Indian School of Business
ISB Creators:
ISB CreatorsORCiD
Kunnumkal, SUNSPECIFIED
Item Type: Article
Uncontrolled Keywords: Upper bounds
Subjects: Operations Management
Depositing User: LRC ISB
Date Deposited: 15 Apr 2015 07:26
Last Modified: 08 Jul 2015 09:34
URI: http://eprints.exchange.isb.edu/id/eprint/382
Publisher URL: http://dx.doi.org/10.1016/j.orl.2015.01.010
Publisher OA policy: http://www.sherpa.ac.uk/romeo/issn/0167-6377/
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