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Conference Paper: Online pricing for multi-type of Items

TitleOnline pricing for multi-type of Items
Authors
KeywordsCompetitive ratio
Deterministic online algorithms
Lower and upper bounds
Lower bounds
Online pricing
Optimal results
Unit prices
Value functions
Issue Date2012
PublisherSpringer Verlag. The Journal's web site is located at http://springerlink.com/content/105633/
Citation
The 6th International Frontiers of Algorithmics Workshop (FAW 2012) and 8th International Conference on Algorithmic Aspects of Information and Management (AAIM 2012), Beijing, China, 14-16 May 2012. In Lecture Notes in Computer Science, 2012, v. 7285, p. 82-92 How to Cite?
AbstractIn this paper, we study the problem of online pricing for bundles of items. Given a seller with k types of items, m of each, a sequence of users {u 1, u 2, ...} arrives one by one. Each user is single-minded, i.e., each user is interested only in a particular bundle of items. The seller must set the price and assign some amount of bundles to each user upon his/her arrival. Bundles can be sold fractionally. Each u i has his/her value function v i (·) such that v i (x) is the highest unit price u i is willing to pay for x bundles. The objective is to maximize the revenue of the seller by setting the price and amount of bundles for each user. In this paper, we first show that the lower bound of the competitive ratio for this problem is Ω(logh + logk), where h is the highest unit price to be paid among all users. We then give a deterministic online algorithm, Pricing, whose competitive ratio is O (√k·log h log k). When k = 1 the lower and upper bounds asymptotically match the optimal result O(logh). © 2012 Springer-Verlag.
DescriptionLNCS v. 7285 entitled: Frontiers in algorithmics and algorithmic aspects in information and management: joint international conference, FAW-AAIM 2012 ... proceedings
Persistent Identifierhttp://hdl.handle.net/10722/152045
ISSN
2005 Impact Factor: 0.402
2015 SCImago Journal Rankings: 0.252
References

 

DC FieldValueLanguage
dc.contributor.authorZhang, Yen_US
dc.contributor.authorChin, FYLen_US
dc.contributor.authorTing, HFen_US
dc.date.accessioned2012-06-26T06:32:50Z-
dc.date.available2012-06-26T06:32:50Z-
dc.date.issued2012en_US
dc.identifier.citationThe 6th International Frontiers of Algorithmics Workshop (FAW 2012) and 8th International Conference on Algorithmic Aspects of Information and Management (AAIM 2012), Beijing, China, 14-16 May 2012. In Lecture Notes in Computer Science, 2012, v. 7285, p. 82-92en_US
dc.identifier.issn0302-9743en_US
dc.identifier.urihttp://hdl.handle.net/10722/152045-
dc.descriptionLNCS v. 7285 entitled: Frontiers in algorithmics and algorithmic aspects in information and management: joint international conference, FAW-AAIM 2012 ... proceedings-
dc.description.abstractIn this paper, we study the problem of online pricing for bundles of items. Given a seller with k types of items, m of each, a sequence of users {u 1, u 2, ...} arrives one by one. Each user is single-minded, i.e., each user is interested only in a particular bundle of items. The seller must set the price and assign some amount of bundles to each user upon his/her arrival. Bundles can be sold fractionally. Each u i has his/her value function v i (·) such that v i (x) is the highest unit price u i is willing to pay for x bundles. The objective is to maximize the revenue of the seller by setting the price and amount of bundles for each user. In this paper, we first show that the lower bound of the competitive ratio for this problem is Ω(logh + logk), where h is the highest unit price to be paid among all users. We then give a deterministic online algorithm, Pricing, whose competitive ratio is O (√k·log h log k). When k = 1 the lower and upper bounds asymptotically match the optimal result O(logh). © 2012 Springer-Verlag.en_US
dc.languageengen_US
dc.publisherSpringer Verlag. The Journal's web site is located at http://springerlink.com/content/105633/en_US
dc.relation.ispartofLecture Notes in Computer Scienceen_US
dc.rightsThe original publication is available at www.springerlink.com-
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectCompetitive ratio-
dc.subjectDeterministic online algorithms-
dc.subjectLower and upper bounds-
dc.subjectLower bounds-
dc.subjectOnline pricing-
dc.subjectOptimal results-
dc.subjectUnit prices-
dc.subjectValue functions-
dc.titleOnline pricing for multi-type of Itemsen_US
dc.typeConference_Paperen_US
dc.identifier.emailZhang, Y: yongzh@hkucc.hku.hken_US
dc.identifier.emailChin, FYL: chin@cs.hku.hken_US
dc.identifier.emailTing, HF: hfting@cs.hku.hk-
dc.identifier.authorityChin, FYL=rp00105en_US
dc.identifier.authorityTing, HF=rp00177en_US
dc.description.naturepostprinten_US
dc.identifier.doi10.1007/978-3-642-29700-7_8en_US
dc.identifier.scopuseid_2-s2.0-84861212315en_US
dc.identifier.hkuros208037-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-84861212315&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume7285en_US
dc.identifier.spage82en_US
dc.identifier.epage92en_US
dc.publisher.placeGermanyen_US
dc.identifier.scopusauthoridTing, HF=7005654198en_US
dc.identifier.scopusauthoridChin, FYL=7005101915en_US
dc.identifier.scopusauthoridZhang, Y=7601329213en_US
dc.customcontrol.immutablesml 140516-

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