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Conference Paper: Sequential pricing for social networks with multi-state diffusion

TitleSequential pricing for social networks with multi-state diffusion
Authors
KeywordsPricing
Revenue Maximization
Marketing
Monetizing
Issue Date2013
PublisherIEEE. The Journal's web site is located at http://www.ieeexplore.ieee.org/xpl/conhome.jsp?punumber=1000308
Citation
The 2013 IEEE Global Communications Conference (GLOBECOM 2013), Atlanta, GA., USA, 9-13 December 2013. In Globecom. IEEE Conference and Exhibition, 2013, p. 3176-3181 How to Cite?
AbstractThe rapid development of online social networks (OSN) makes viral marketing through the word-of-mouth effect possible. Designing effective marketing strategy is critical in monetizing social networks. However, most existing studies focus on conducting effective influence maximization analysis to propagate information widely instead of explicitly incorporating the pricing factor to design intelligent marketing strategies. In this paper, we study the sequential pricing models in which a monopoly seller iteratively posts a sequence of public unique prices for a product in stages, and any interested buyer can buy the product at the posted price at a particular stage if his valuation is above the posted price. Specifically, our model is built on the multi-state diffusion scheme where an active user may be in the “AWARE” and “ADOPT” states. Users in “ADOPT” state could influence their neighbors’ valuation for the given product. To realize the goal of revenue maximization, we develop a Dynamic Programming Based Heuristic (DPBH) to obtain the optimal pricing sequence. Application of the DPBH in the revenue maximization problem shows that it performs well in the expected revenue achieved and in running time. This leads to fundamental ramifications to many related OSN marketing applications.
DescriptionConference Theme: the Power of Global Communications
Symposium on Selected Areas in Communications
Persistent Identifierhttp://hdl.handle.net/10722/191600
ISBN
ISSN

 

DC FieldValueLanguage
dc.contributor.authorNiu, Gen_US
dc.contributor.authorLi, VOKen_US
dc.contributor.authorLong, Yen_US
dc.date.accessioned2013-10-15T07:14:33Z-
dc.date.available2013-10-15T07:14:33Z-
dc.date.issued2013en_US
dc.identifier.citationThe 2013 IEEE Global Communications Conference (GLOBECOM 2013), Atlanta, GA., USA, 9-13 December 2013. In Globecom. IEEE Conference and Exhibition, 2013, p. 3176-3181en_US
dc.identifier.isbn9781479913534-
dc.identifier.issn1930-529X-
dc.identifier.urihttp://hdl.handle.net/10722/191600-
dc.descriptionConference Theme: the Power of Global Communications-
dc.descriptionSymposium on Selected Areas in Communications-
dc.description.abstractThe rapid development of online social networks (OSN) makes viral marketing through the word-of-mouth effect possible. Designing effective marketing strategy is critical in monetizing social networks. However, most existing studies focus on conducting effective influence maximization analysis to propagate information widely instead of explicitly incorporating the pricing factor to design intelligent marketing strategies. In this paper, we study the sequential pricing models in which a monopoly seller iteratively posts a sequence of public unique prices for a product in stages, and any interested buyer can buy the product at the posted price at a particular stage if his valuation is above the posted price. Specifically, our model is built on the multi-state diffusion scheme where an active user may be in the “AWARE” and “ADOPT” states. Users in “ADOPT” state could influence their neighbors’ valuation for the given product. To realize the goal of revenue maximization, we develop a Dynamic Programming Based Heuristic (DPBH) to obtain the optimal pricing sequence. Application of the DPBH in the revenue maximization problem shows that it performs well in the expected revenue achieved and in running time. This leads to fundamental ramifications to many related OSN marketing applications.-
dc.languageengen_US
dc.publisherIEEE. The Journal's web site is located at http://www.ieeexplore.ieee.org/xpl/conhome.jsp?punumber=1000308-
dc.relation.ispartofGlobecom. IEEE Conference and Exhibitionen_US
dc.rightsGlobecom. IEEE Conference and Exhibition. Copyright © IEEE.-
dc.rights©2013 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.-
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectPricing-
dc.subjectRevenue Maximization-
dc.subjectMarketing-
dc.subjectMonetizing-
dc.titleSequential pricing for social networks with multi-state diffusionen_US
dc.typeConference_Paperen_US
dc.identifier.emailNiu, G: glniu@eee.hku.hken_US
dc.identifier.emailLi, VOK: vli@eee.hku.hk-
dc.identifier.emailLong, Y: yilong@eee.hku.hk-
dc.identifier.authorityLi, VOK=rp00150en_US
dc.description.naturepublished_or_final_version-
dc.identifier.doi10.1109/GLOCOM.2013.6831560-
dc.identifier.scopuseid_2-s2.0-84904118272-
dc.identifier.hkuros225438en_US
dc.identifier.hkuros240514-
dc.identifier.spage3176-
dc.identifier.epage3181-
dc.publisher.placeUnited States-
dc.customcontrol.immutablesml 140630-

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