Stocking Retail Assortments Under Dynamic Consumer Substitution

By Siddharth Mahajan, G. V. Ryzin. Operational Research, 2001

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Dynamic Pricing and Inventory Control of Substitute Products (2009, background): “van Ryzin and Mahajan (1999) are the first to adopt the MNL model to determine the normal demand distribution for substitute products and study the optimal assortment.”
Demand Estimation and Assortment Optimization Under Substitution: Methodology and Application (2007, methodology): “Mahajan and van Ryzin (2001) develop a stochastic sample path optimization method for an assortment model with MNL choice and both types of substitution.”
Centralized and Competitive Inventory Models with Demand Substitution (2002, background): “Smith and Agrawal [19], Agrawal and Smith [1], Mahajan and van Ryzin [7] and van Ryzin and Mahajan [18] provide more elaborate models of the consumer choice process.”
A Single‐Period Assortment Optimization Model (2007, background): “…S affect the demand variability of D j ( S ) and the proﬁtability of each variant, we need to evaluate every feasible solu-tion (totally 2 n (cid:2) 1 combinations) to ﬁnd the optimal assortment, which is impractical (see the discussions in Mahajan and van Ryzin 2001a; Ko¨k and Fisher 2006).”