Lin, Qiulin and Yi, Hanling and Wierman, Adam and Pang, John and Honig, Michael and Chen, Minghua and Xiao, Yuanzhang (2019) Competitive Online Optimization under Inventory Constraints. In: Abstracts of the 2019 SIGMETRICS/Performance Joint International Conference on Measurement and Modeling of Computer Systems. Association for Computing Machinery , New York, NY, pp. 35-36. ISBN 978-1-4503-6678-6. https://resolver.caltech.edu/CaltechAUTHORS:20190710-131506895
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Abstract
This paper studies online optimization under inventory (budget) constraints. While online optimization is a well-studied topic, versions with inventory constraints have proven difficult. We consider a formulation of inventory-constrained optimization that is a generalization of the classic one-way trading problem and has a wide range of applications. We present a new algorithmic framework, CR-Pursuit, and prove that it achieves the optimal competitive ratio among all deterministic algorithms (up to a problem-dependent constant factor) for inventory-constrained online optimization. Our algorithm and its analysis not only simplify and unify the state-of-the-art results for the standard one-way trading problem, but they also establish novel bounds for generalizations including concave revenue functions. For example, for one-way trading with price elasticity, CR-Pursuit achieves a competitive ratio within a small additive constant (i.e., 1/3) to the lower bound of lnӨ+1, where Ө is the ratio between the maximum and minimum base prices.
Item Type: | Book Section | |||||||||
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Additional Information: | © 2019 Copyright held by the owner/author(s). | |||||||||
Subject Keywords: | Inventory Constraints; Revenue Maximization; Online Algorithms; One-way Trading; Price Elasticity | |||||||||
Record Number: | CaltechAUTHORS:20190710-131506895 | |||||||||
Persistent URL: | https://resolver.caltech.edu/CaltechAUTHORS:20190710-131506895 | |||||||||
Usage Policy: | No commercial reproduction, distribution, display or performance rights in this work are provided. | |||||||||
ID Code: | 97032 | |||||||||
Collection: | CaltechAUTHORS | |||||||||
Deposited By: | Tony Diaz | |||||||||
Deposited On: | 10 Jul 2019 20:53 | |||||||||
Last Modified: | 03 Oct 2019 21:27 |
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