A Data-Driven Approach to Modeling Choice

Year
2009
Type(s)
Author(s)
V. Farias, S. Jagabathula, D. Shah
Source
Advances in Neural Information Processing Systems, 2009, pp.504-512
Url
http://papers.nips.cc/paper/3862-a-data-driven-approach-to-modeling-choice.pdf

We visit the following fundamental problem: For a `generic model of consumer choice (namely, distributions over preference lists) and a limited amount of data on how consumers actually make decisions (such as marginal preference information), how may one predict revenues from offering a particular assortment of choices? This problem is central to areas within operations research, marketing and econometrics. We present a framework to answer such questions and design a number of tractable algorithms (from a data and computational standpoint) for the same.