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Dynamic pricing and assortment under a contextual MNL demand. (arXiv:2110.10018v2 [cs.LG] UPDATED)
Nov. 15, 2022, 2:12 a.m. | Vineet Goyal, Noemie Perivier
cs.LG updates on arXiv.org arxiv.org
We consider dynamic multi-product pricing and assortment problems under an
unknown demand over T periods, where in each period, the seller decides on the
price for each product or the assortment of products to offer to a customer who
chooses according to an unknown Multinomial Logit Model (MNL). Such problems
arise in many applications, including online retail and advertising. We propose
a randomized dynamic pricing policy based on a variant of the Online Newton
Step algorithm (ONS) that achieves a …
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