Abstract
In this note we introduce the problem of assortment optimization over time. We have a sequence of time steps and can introduce one new product per time step. Once introduced a product cannot be removed. The goal is to determine which products to introduce so as to maximize revenue over all time steps under some choice model. Given a 1/α-approximation algorithm for the capacitated assortment optimization problem we give a 1/2α-approximation algorithm for this problem.
Original language | English (US) |
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Article number | 5986 |
Pages (from-to) | 608-611 |
Number of pages | 4 |
Journal | Operations Research Letters |
Volume | 43 |
Issue number | 6 |
DOIs | |
State | Published - Sep 26 2015 |
Keywords
- Approximation algorithms
- Assortment optimization
- Choice models
- Revenue management
ASJC Scopus subject areas
- Software
- Management Science and Operations Research
- Industrial and Manufacturing Engineering
- Applied Mathematics