The Power of Simple Menus in Robust Selling Mechanisms

Published Online:https://doi.org/10.1287/mnsc.2023.03738

References

  • Allouah A, Besbes O (2020) Prior-independent optimal auctions. Management Sci. 66(10):4417–4432.LinkGoogle Scholar
  • Allouah A, Bahamou A, Besbes O (2022) Pricing with samples. Oper. Res. 70(2):1088–1104.LinkGoogle Scholar
  • Allouah A, Bahamou A, Besbes O (2023) Optimal pricing with a single point. Management Sci. 69(10):5866–5882.LinkGoogle Scholar
  • Azar PD, Micali S (2013) Parametric digital auctions. Proc. 4th Conf. Innovations Theoret. Comput. Sci., 231–232.Google Scholar
  • Azar P, Daskalakis C, Micali S, Weinberg SM (2013) Optimal and efficient parametric auctions. Proc. Twenty-Fourth Annual ACM-SIAM Sympos. Discrete Algorithms (Society for Industrial and Applied Mathematics, Philadelphia), 596–604.Google Scholar
  • Babaioff M, Gonczarowski YA, Nisan N (2017) The menu-size complexity of revenue approximation. Proc. 49th Annual ACM SIGACT Sympos. Theory Comput. (ACM, New York), 869–877.Google Scholar
  • Babaioff M, Immorlica N, Lucier B, Weinberg SM (2020) A simple and approximately optimal mechanism for an additive buyer. J. ACM 67(4):1–40.CrossrefGoogle Scholar
  • Ball MO, Queyranne M (2009) Toward robust revenue management: Competitive analysis of online booking. Oper. Res. 57(4):950–963.LinkGoogle Scholar
  • Balseiro SR, Ma W, Zhang W (2023) Dynamic pricing for reusable resources: The power of two prices. Preprint, submitted August 26, https://arxiv.org/abs/2308.13822.Google Scholar
  • Bandi C, Bertsimas D (2014) Optimal design for multi-item auctions: A robust optimization approach. Math. Oper. Res. 39(4):1012–1038.LinkGoogle Scholar
  • Bassamboo A, Randhawa RS, Van Mieghem JA (2010) Optimal flexibility configurations in newsvendor networks: Going beyond chaining and pairing. Management Sci. 56(8):1285–1303.LinkGoogle Scholar
  • Bassamboo A, Randhawa RS, Van Mieghem JA (2012) A little flexibility is all you need: On the asymptotic value of flexible capacity in parallel queuing systems. Oper. Res. 60(6):1423–1435.LinkGoogle Scholar
  • Bergemann D, Schlag KH (2008) Pricing without priors. J. Eur. Econom. Assoc. 6(2–3):560–569.CrossrefGoogle Scholar
  • Bergemann D, Schlag KH (2011) Robust monopoly pricing. J. Econom. Theory 146(6):2527–2543.CrossrefGoogle Scholar
  • Bergquist J, Elmachtoub AN (2023) Static pricing guarantees for queueing systems. Preprint, submitted May 16, https://arxiv.org/abs/2305.09168.Google Scholar
  • Besbes O, Elmachtoub AN, Sun Y (2019) Static pricing: Universal guarantees for reusable resources. Proc. 2019 ACM Conf. Econom. Comput. (ACM, New York), 393–394.Google Scholar
  • Bidkhori H, Simchi-Levi D, Wei Y (2016) Analyzing process flexibility: A distribution-free approach with partial expectations. Oper. Res. Lett. 44(3):291–296.CrossrefGoogle Scholar
  • Cai Y, Zhao M (2017) Simple mechanisms for subadditive buyers via duality. Proc. 49th Annual ACM SIGACT Sympos. Theory Comput. (ACM, New York), 170–183.Google Scholar
  • Caldentey R, Liu Y, Lobel I (2017) Intertemporal pricing under minimax regret. Oper. Res. 65(1):104–129.LinkGoogle Scholar
  • Carrasco V, Luz VF, Kos N, Messner M, Monteiro P, Moreira H (2018) Optimal selling mechanisms under moment conditions. J. Econom. Theory 177:245–279.CrossrefGoogle Scholar
  • Carroll G (2017) Robustness and separation in multidimensional screening. Econometrica 85(2):453–488.CrossrefGoogle Scholar
  • Che Y-K, Zhong W (2021) Robustly-optimal mechanism for selling multiple goods. Proc. 22nd ACM Conf. Econom. Comput. (ACM, New York), 314–315.Google Scholar
  • Chen Y, Dong J (2021) Scheduling with service-time information: The power of two priority classes. Preprint, submitted February 16, https://arxiv.org/abs/2105.10499.Google Scholar
  • Chen H, Hu M, Perakis G (2022) Distribution-free pricing. Manufacturing Service Oper. Management 24(4):1939–1958.LinkGoogle Scholar
  • Chen Z, Hu Z, Wang R (2024) Screening with limited information: A dual perspective. Oper. Res. 72(4):1487–1504.LinkGoogle Scholar
  • Chen H, Hu M, Wu J (2023a) Intertemporal price discrimination via randomized promotions. Manufacturing Service Oper. Management 25(3):1176–1194.LinkGoogle Scholar
  • Chen N, Elmachtoub AN, Hamilton M, Lei X (2020) Loot box pricing and design. Proc. 21st ACM Conf. Econom. Comput. (ACM, New York), 291–292.Google Scholar
  • Chen H, He Y, Jin QI, Zhang L (2023b) Distributionally robust pricing with asymmetric information. Preprint, submitted February 26, https://dx.doi.org/10.2139/ssrn.4365395.Google Scholar
  • Chou MC, Chua GA, Zheng H (2014) On the performance of sparse process structures in partial postponement production systems. Oper. Res. 62(2):348–365.LinkGoogle Scholar
  • Chou MC, Chua GA, Teo C-P, Zheng H (2010) Design for process flexibility: Efficiency of the long chain and sparse structure. Oper. Res. 58(1):43–58.LinkGoogle Scholar
  • Chou MC, Chua GA, Teo C-P, Zheng H (2011) Process flexibility revisited: The graph expander and its applications. Oper. Res. 59(5):1090–1105.LinkGoogle Scholar
  • Cohen MC, Elmachtoub AN, Lei X (2022) Price discrimination with fairness constraints. Management Sci. 68(12):8536–8552.LinkGoogle Scholar
  • Cohen MC, Perakis G, Pindyck RS (2021) A simple rule for pricing with limited knowledge of demand. Management Sci. 67(3):1608–1621.LinkGoogle Scholar
  • Cole R, Roughgarden T (2014) The sample complexity of revenue maximization. Proc. Forty-Sixth Annual ACM Sympos. Theory Comput. (ACM, New York), 243–252.Google Scholar
  • Dhangwatnotai P, Roughgarden T, Yan Q (2015) Revenue maximization with a single sample. Games Econom. Behav. 91:318–333.CrossrefGoogle Scholar
  • Eden A, Feldman M, Friedler O, Talgam-Cohen I, Weinberg SM (2021) A simple and approximately optimal mechanism for a buyer with complements. Oper. Res. 69(1):188–206.LinkGoogle Scholar
  • Elmachtoub AN, Hamilton ML (2021) The power of opaque products in pricing. Management Sci. 67(8):4686–4702.LinkGoogle Scholar
  • Elmachtoub AN, Shi J (2023) The power of static pricing for reusable resources. Preprint, submitted February 23, https://arxiv.org/abs/2302.11723.Google Scholar
  • Elmachtoub AN, Gupta V, Hamilton ML (2021) The value of personalized pricing. Management Sci. 67(10):6055–6070.LinkGoogle Scholar
  • Elmachtoub AN, Sheth H, Zhou Y (2023) Simple policies for joint pricing and inventory management. Preprint, submitted June 16, https://dx.doi.org/10.2139/ssrn.4470538.Google Scholar
  • Elmachtoub AN, Wei Y, Zhou Y (2015) Retailing with opaque products. Preprint, submitted September 11, https://dx.doi.org/10.2139/ssrn.2659211.Google Scholar
  • Eren SS, Maglaras C (2010) Monopoly pricing with limited demand information. J. Revenue Pricing Management 9(1–2):23–48.CrossrefGoogle Scholar
  • Feng Y, Hartline JD, Li Y (2023) Simple mechanisms for non-linear agents. Proc. 2023 Annual ACM-SIAM Sympos. Discrete Algorithms (SODA) (SIAM, Philadelphia), 3802–3816.Google Scholar
  • Fu H, Liaw C, Randhawa S (2019) The Vickrey auction with a single duplicate bidder approximates the optimal revenue. Proc. 2019 ACM Conf. Econom. Comput. (ACM, New York), 419–420.Google Scholar
  • Fu H, Immorlica N, Lucier B, Strack P (2015) Randomization beats second price as a prior-independent auction. Proc. Sixteenth ACM Conf. Econom. Comput. (ACM, New York), 323.Google Scholar
  • Giannakopoulos Y, Poças D, Tsigonias-Dimitriadis A (2023) Robust revenue maximization under minimal statistical information. ACM Trans. Econom. Comput. 10(3):1–34.Google Scholar
  • Gonczarowski YA, Nisan N (2017) Efficient empirical revenue maximization in single-parameter auction environments. Proc. 49th Annual ACM SIGACT Sympos. Theory Comput. (ACM, New York), 856–868.Google Scholar
  • Gravin N, Lu P (2018) Separation in correlation-robust monopolist problem with budget. Proc. Twenty-Ninth Annual ACM-SIAM Sympos. Discrete Algorithms (SIAM, Philadelphia), 2069–2080.Google Scholar
  • Guo C, Huang Z, Zhang X (2019) Settling the sample complexity of single-parameter revenue maximization. Proc. 51st Annual ACM SIGACT Sympos. Theory Comput. (ACM, New York), 662–673.Google Scholar
  • Hart S, Nisan N (2013) The menu-size complexity of auctions. Discussion paper, Federmann Center for the Study of Rationality, Hebrew University of Jerusalem, Jerusalem.Google Scholar
  • Hart S, Nisan N (2017) Approximate revenue maximization with multiple items. J. Econom. Theory 172:313–347.CrossrefGoogle Scholar
  • Hart S, Nisan N (2019) Selling multiple correlated goods: Revenue maximization and menu-size complexity. J. Econom. Theory 183:991–1029.CrossrefGoogle Scholar
  • Hartline JD, Roughgarden T (2009) Simple vs. optimal mechanisms. Proc. 10th ACM Conf. Electronic Commerce (ACM, New York), 225–234.Google Scholar
  • Hu Y, Huang Z, Shen Y, Wang X (2021) Targeting makes sample efficiency in auction design. Proc. 22nd ACM Conf. Econom. Comput. (ACM, New York), 610–629.Google Scholar
  • Huang Z, Mansour Y, Roughgarden T (2018) Making the most of your samples. SIAM J. Comput. 47(3):651–674.CrossrefGoogle Scholar
  • Jin Y, Lu P, Tang ZG, Xiao T (2020) Tight revenue gaps among simple mechanisms. SIAM J. Comput. 49(5):927–958.CrossrefGoogle Scholar
  • Jordan WC, Graves SC (1995) Principles on the benefits of manufacturing process flexibility. Management Sci. 41(4):577–594.LinkGoogle Scholar
  • Koçyiğit Ç, Rujeerapaiboon N, Kuhn D (2022) Robust multidimensional pricing: Separation without regret. Math. Programming 196(1):841–874.CrossrefGoogle Scholar
  • Koçyiğit Ç, Iyengar G, Kuhn D, Wiesemann W (2020) Distributionally robust mechanism design. Management Sci. 66(1):159–189.LinkGoogle Scholar
  • Li Y, Lu P, Ye H (2019) Revenue maximization with imprecise distribution. Preprint, submitted March 3, https://arxiv.org/abs/1903.00836.Google Scholar
  • Myerson RB (1981) Optimal auction design. Math. Oper. Res. 6(1):58–73.LinkGoogle Scholar
  • Pınar MÇ, Kızılkale C (2017) Robust screening under ambiguity. Math. Programming 163(1–2):273–299.CrossrefGoogle Scholar
  • Riley J, Zeckhauser R (1983) Optimal selling strategies: When to haggle, when to hold firm. Quart. J. Econom. 98(2):267–289.CrossrefGoogle Scholar
  • Shi C, Wei Y, Zhong Y (2019) Process flexibility for multiperiod production systems. Oper. Res. 67(5):1300–1320.LinkGoogle Scholar
  • Simchi-Levi D, Wei Y (2012) Understanding the performance of the long chain and sparse designs in process flexibility. Oper. Res. 60(5):1125–1141.LinkGoogle Scholar
  • Simchi-Levi D, Wei Y (2015) Worst-case analysis of process flexibility designs. Oper. Res. 63(1):166–185.LinkGoogle Scholar
  • Tsitsiklis JN, Xu K (2013) On the power of (even a little) resource pooling. Stochastic Systems 2(1):1–66.LinkGoogle Scholar
  • Tsitsiklis JN, Xu K (2017) Flexible queueing architectures. Oper. Res. 65(5):1398–1413.LinkGoogle Scholar
  • Wang Z, Tang P (2014) Optimal mechanisms with simple menus. Proc. Fifteenth ACM Conf. Econom. Comput. (ACM, New York), 227–240.Google Scholar
  • Wang X, Zhang J (2015) Process flexibility: A distribution-free bound on the performance of k-chain. Oper. Res. 63(3):555–571.LinkGoogle Scholar
  • Wang S, Liu S, Zhang J (2024) Minimax regret robust screening with moment information. Manufacturing Service Oper. Management 26(3):992–1012.LinkGoogle Scholar
  • Wang S, Wang X, Zhang J (2022) Robust optimization approach to process flexibility designs with contribution margin differentials. Manufacturing Service Oper. Management 24(1):632–646.LinkGoogle Scholar
  • Wang S, Zhang J, Zhang Y (2023) The impact of profit differentials on the value of a little flexibility. Preprint, submitted April 15, https://dx.doi.org/10.2139/ssrn.4413821.Google Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.