Patrick Jaillet

No-regret Learning in Price Competitions under Consumer Reference Effects

  • Negin Golrezaei
  • Patrick Jaillet
  • Jason Cheuk Nam Liang
    • Categories Applications - OR and Management Sciences, Finance and Economics, Game Theory Tags , , ,

    We study long-run market stability for repeated price competitions between two firms, where consumer demand depends on firms’ posted prices and consumers’ price expectations called reference prices. Consumers’ reference prices vary over time according to a memory-based dynamic, which is a weighted average of all historical prices. We focus on the setting where firms are … Read more

    Satisficing Models under Uncertainty

  • Patrick Jaillet
  • Sanjay Dominik Jena
  • Tsan Sheng Ng
  • Melvyn Sim
    • Categories Integer Programming, Robust Optimization, Stochastic Programming Tags , , ,

    Satisficing, as an approach to decision-making under uncertainty, aims at achieving solutions that satisfy the problem’s constraints as well as possible. Mathematical optimization problems that are related to this form of decision-making include the P-model of Charnes and Cooper (1963). In this paper, we propose a general framework of satisficing decision criteria, and show a … Read more