讲座：New Approaches to Product Bundling
题 目：New Approaches to Product Bundling
嘉 宾：Hailong Sun, PhD candidate, National University of Singapore
主持人：花成 助理教授 上海交通大学安泰经济与管理学院
Product bundling refers to the selling mechanism where two or more products are bundled as a new option with discounted price. As a common marketing strategy, product bundling is an effective promotion device to boost the revenues of multi-product firms. However, efficiently finding the optimal bundling strategy can be challenging. Motivated by our collaboration with an airline company, we investigate how to efficiently find near optimal prices for given bundling mechanisms. We develop a tractable convex optimization framework for the general bundle pricing problem. We show that the complex correlation structures in customers’ bundle choices are captured by the first two moments of valuations, which can be efficiently estimated from data by solving a conic program. Numerical results show that our approach performs very well compared with state-of-the-art heuristics. This provides a unified and efficient approach to solve the bundle pricing problem under various distributions and dimensions.
Hailong Sun is a PhD candidate in the Institute of Operations Research and Analytics at National University of Singapore. His research interests lie in stochastic optimization, robust optimization and data-driven optimization with applications in pricing and revenue management problems. His work on convex bundle pricing has been accepted by Management Science, and the preliminary version of this work has appeared in Proceedings of ACM Conference on Economics and Computation. He received the Bachelor's degree in Environmental Engineering from the Ocean University of China, and the Master's degree in Management Science and Engineering from South China University of Technology. Prior to graduate study, he worked as a Design Engineer in construction industry for three years.