We consider the single-period joint assortment and inventory planning problem with stochastic demand and dynamic substitution across products, motivated by applications in highly differentiated markets, such as online retailing and airlines. This class of problems is known to be notoriously hard...

Assortment planning of substitutable products is a major operational issue that arises in many industries, such as retailing, airlines and consumer electronics. We consider a single-period joint assortment and inventory planning problem under dynamic substitution with stochastic demands, and...

We study the dynamic assortment planning problem under the widely-utilized Multinomial Logit choice model (MNL). In this single-period assortment optimization and inventory management problem, the retailer jointly decides on an assortment, i.e., a subset of products to be offered, as well as on...

The main contribution of this paper resides in proposing a novel approximate dynamic programming approach for capacitated assortment optimization under the Nested Logit model in its utmost generality. Specifically, we show that the optimal revenue can be efficiently approached within any degree...