报告题目 | How to Develop Discrete Choice Models with New Features: Two Examples |
报告人（单位） | 王汝现 (Johns Hopkins University, Carey Business School) |
主持人（单位） | 薛巍立、陈静（东南大学） |
时间地点 | 2023年4月 15日（周六）11:00 四牌楼东南院305 |
报告摘要和内容： In this talk, I will present several examples to show how new features can be incorporated into discrete choice models. For example, I propose a hybrid model to study sequential and simultaneous choice behavior in the presence of search cost. After examining all products in an assortment, a rational consumer decides whether to continue searching. Switching from one assortment to another often incurs a search cost that is often related to transportation expense or time. I combine the classic sequential search model with the famous simultaneous discrete choice model, and develop a unified framework to investigate the impact of search cost on the sequential and simultaneous choice behavior. The proposed framework involves a deterministic utility in the discrete choice model under the random utility maximization theory, which is another example. I consider the associated operations problems including price optimization and competition, assortment planning, search cost management and model estimation. Related papers: (1) What Is the Impact of Non-Randomness on Random Choice Models? (link), (2) Hybrid Model for Sequential and Simultaneous Choice with Search Cost (link) | |
Dr. Ruxian Wang is a Professor with tenure at Johns Hopkins University, Carey Business School. He received Ph.D. from Columbia University. Before returning to academia, he worked at Hewlett-Packard Company for several years as a research scientist. His research and teaching interests include operations management, revenue management, pricing, discrete choice models, and data-driven decision making. His articles appeared in the flagship journals in his field, such as Management Science, Manufacturing & Service Operations Management, Operations Research, Production and Operations Management。 | |
