Workshop für Quantitative Betriebswirtschaftslehre
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von Institut für Produktionswirtschaft Hannover am 04.12.2023, 08:29
The 33rd QBWL Workshop will take place from 18 to 21 March 2024 in the town of Loccum, Hannover region. Registration to attend and apply for a presentation is open now.
32nd QBWL Workshop - program now online
von QBWL Team am 17.02.2023, 09:17
The program for the 32nd QBWL workshop is now available. Please have a look in the "Downloads" section.
VHB ProDok PhD Course "Choice-Based Optimization"
von Sven Müller am 06.12.2022, 10:00
Summary and study goals
Demand is an important quantity in many optimization problems such as revenue management and supply chain management. Demand usually depends on “supply” (price and availability of products, f. e.), which in turn is decided on in the optimization model. Hence, demand is endogenous to the optimization problem. Choice-based optimization (CBO) merges discrete choice models with math programs. Discrete choice models (DCM) have been applied by both practitioners and researchers for more than four decades in various fields. DCM describe the choice probabilities of individuals selecting an alternative from a set of available alternatives. CBO determines (i) the availability of the alternatives and/or (ii) the attributes of the alternatives, i.e., the decision variables determine the availability of alternatives and/or the shape of the attributes. We present CBO applications to location planning, supply chain management, assortment and revenue management.
Students will learn how to develop and use predictive models (discrete choice models) in the software R and how to introduce such models in mathematical models for decision-making (i.e., mixed integer programs) to consider demand as an auxiliary variable. The models will be implemented in a modeling environment (GAMS). Case studies will be used for practicing purposes.