Optimal Algorithms for Assortment Optimization: Practical Solutions Without No-Choice Constraints

Concepts de base

The authors propose efficient algorithms for assortment optimization without unrealistic constraints, providing practical and optimal solutions.

Résumé

The content discusses the development of efficient algorithms for assortment optimization without the need for a 'No-Choice' item. The proposed algorithms address limitations in existing methods and offer practical and provably optimal solutions. Empirical evaluations confirm the superior performance of the new algorithms.

The problem of active online assortment optimization with preference feedback is explored, highlighting the importance of relative feedback over absolute ratings. The framework is applicable to various real-world scenarios such as ad placement, recommender systems, and online retail.

Existing literature on assortment optimization is reviewed, pointing out limitations in algorithm design that require repetitive selection of the same items. The proposed algorithms aim to overcome these limitations by introducing novel concentration guarantees and adaptive pivot selection.

Key contributions include a general AOA setup for PL models, practical algorithm designs, and empirical evaluations showcasing improved performance. The content also discusses future research directions to extend the findings to other choice models beyond PL.

Stats

Regtop T = O(θ3/2 max √KT log T)
Regwtd T = O(√θmaxKT log T)

Citations

"We designed efficient algorithms for the problem of regret minimization in assortment selection with Plackett Luce (PL) based user choices."
"Our methods are practical, provably optimal, and devoid of the aforementioned limitations of the existing methods."

Idées clés tirées de

Stop Relying on No-Choice and Do not Repeat the Moves

by Aadirupa Sah... à arxiv.org 03-01-2024

https://arxiv.org/pdf/2402.18917.pdf

Questions plus approfondies

Can efficient algorithms be designed without a 'No-Choice' item while maintaining linear regret rates

Efficient algorithms can indeed be designed without a 'No-Choice' item while still maintaining linear regret rates. The key lies in the innovative approach of using Rank-Breaking techniques to estimate pairwise preferences and PL parameters accurately. By optimizing the pivot selection process, as demonstrated in the AOA-RBPL-Adaptive algorithm, it is possible to achieve optimal performance even without relying on a strong default item like the No-Choice (NC) item. This approach eliminates unrealistic assumptions and ensures practicality in assortment optimization problems.

What are potential implications of extending these findings to other choice models beyond PL

Extending these findings to other choice models beyond Plackett-Luce (PL) could have significant implications for various real-world applications. For instance, by applying similar techniques to different choice models such as Mallows or Markov chain-based models, one can enhance assortment optimization strategies across diverse scenarios. The adaptability of these algorithms to alternative choice models opens up opportunities for more comprehensive and versatile solutions in dynamic assortment planning and revenue management.

How can adaptive pivot selection improve algorithm performance in dynamic assortment planning

Adaptive pivot selection plays a crucial role in improving algorithm performance in dynamic assortment planning scenarios. By dynamically adjusting the pivot based on estimated pairwise preferences and upper confidence bounds, algorithms like AOA-RBPL-Adaptive can effectively optimize subset choices without being constrained by a fixed default item assumption. This adaptability allows for better estimation accuracy of PL parameters, leading to enhanced decision-making capabilities and ultimately superior outcomes in assortment optimization tasks.