Introduction to Choice Modeling

Guillermo Gallego; Huseyin Topaloglu

doi:10.1007/978-1-4939-9606-3_4

Introduction to Choice Modeling

Guillermo Gallego^*
, Huseyin Topaloglu

^*Corresponding author for this work

Department of Industrial Engineering and Decision Analytics

Research output: Chapter in Book/Conference Proceeding/Report › Book Chapter › peer-review

3 Citations (Scopus)

Abstract

Revenue management models were originally developed under the assumption of stochastically independent demands. This assumption is untenable when products are close substitutes. In this case, the demand for a particular product may depend on the set of competing products that are available in the market. For example, when a product is removed from an assortment, its demand may be recaptured by another product in the assortment, or it may spill to competitors or the no-purchase alternative.

Original language	English
Title of host publication	International Series in Operations Research and Management Science
Publisher	Springer New York LLC
Pages	109-128
Number of pages	20
DOIs	https://doi.org/10.1007/978-1-4939-9606-3_4
Publication status	Published - 2019

Publication series

Name	International Series in Operations Research and Management Science
Volume	279
ISSN (Print)	0884-8289
ISSN (Electronic)	2214-7934

Bibliographical note

Publisher Copyright:
© Springer Science+Business Media, LLC, part of Springer Nature 2019.

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10.1007/978-1-4939-9606-3_4

Cite this

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AB - Revenue management models were originally developed under the assumption of stochastically independent demands. This assumption is untenable when products are close substitutes. In this case, the demand for a particular product may depend on the set of competing products that are available in the market. For example, when a product is removed from an assortment, its demand may be recaptured by another product in the assortment, or it may spill to competitors or the no-purchase alternative.

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Introduction to Choice Modeling

Abstract

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