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A budget-constrained buyer wants to purchase items from a shortlisted set. Items are differentiated by observable quality and sellers have private reserve prices for their items. The buyer's problem is to select a subset of maximal quality. Money does not enter the buyer's objective function,...
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We compare three different approaches studied by past literature on data-driven inventory optimization--- Frequentist Parametric (FP), Bayesian Parametric (BP) and Nonparametric--- for the newsvendor problem. For the Parametric approaches, we allow for mis-specification of the demand model. We...
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Recently, Kessels et al. (2006) developed a way to produce Bayesian G- and V-optimal designs for the multinomial logitmodel. These designs allow for precise response predictions which is the goal of conjoint choice experiments. The authors showed that the G- and V- optimality criteria outperform...
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This note adapts results by Huang and Hidiroglou (2003) on Generalized Least Squares estimation and Empirical Bayes prediction for linear mixed models with sampling weights. The objective is to incorporate these results into the poverty mapping approach put forward by Elbers et al. (2003). The...
Persistent link: https://www.econbiz.de/10012972758
Two ideas taken from Bayesian optimization and classifier systems are presented for personnel scheduling based on choosing a suitable scheduling rule from a set for each person's assignment. Unlike our previous work of using genetic algorithms whose learning is implicit, the learning in both...
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