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Article: Constant competitive algorithms for unbounded one-Way trading under monotone hazard rate
Title | Constant competitive algorithms for unbounded one-Way trading under monotone hazard rate |
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Authors | |
Keywords | Online selling competitive ratio monotone hazard rate |
Issue Date | 2018 |
Publisher | American Institute of Mathematical Sciences (AIMS Press). The Journal's web site is located at http://www.aimsciences.org/journal/A0000-0001 |
Citation | Mathematical Foundations of Computing, 2018, v. 1 n. 4, p. 383-392 How to Cite? |
Abstract | In the one-way trading problem, a seller has some product to be sold to a sequence of buyers in an online fashion, i.e., buyers come one after another. Each buyer has the accepted unit price which is known to the seller on his arrival. To maximize the total revenue, the seller has to carefully decide the amount of products to be sold to each buyer at the then-prevailing prices. In this paper, we study the unbounded one-way trading, i.e., the highest unit price among all buyers is positive and unbounded. We assume that the highest prices of buyers follow some distribution with monotone hazard rate, which is a well-adopted assumption. We investigate two variants, (1) the distribution is on the highest price among all buyers, and (2) the distribution of the highest price of each buyer is independent and identically distributed. To measure the performance of the algorithms, the expected competitive ratios, E[OPT]/E[ALG] and E[OPT/ALG], are considered. If the distributions satisfy the monotone hazard rate, for both of the above two variants, constant-competitive algorithms can be achieved. |
Persistent Identifier | http://hdl.handle.net/10722/293929 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Zhang, Y | - |
dc.contributor.author | Chin, FYL | - |
dc.contributor.author | Lau, FCM | - |
dc.contributor.author | Tan, H | - |
dc.contributor.author | Ting, HF | - |
dc.date.accessioned | 2020-11-23T08:23:53Z | - |
dc.date.available | 2020-11-23T08:23:53Z | - |
dc.date.issued | 2018 | - |
dc.identifier.citation | Mathematical Foundations of Computing, 2018, v. 1 n. 4, p. 383-392 | - |
dc.identifier.uri | http://hdl.handle.net/10722/293929 | - |
dc.description.abstract | In the one-way trading problem, a seller has some product to be sold to a sequence of buyers in an online fashion, i.e., buyers come one after another. Each buyer has the accepted unit price which is known to the seller on his arrival. To maximize the total revenue, the seller has to carefully decide the amount of products to be sold to each buyer at the then-prevailing prices. In this paper, we study the unbounded one-way trading, i.e., the highest unit price among all buyers is positive and unbounded. We assume that the highest prices of buyers follow some distribution with monotone hazard rate, which is a well-adopted assumption. We investigate two variants, (1) the distribution is on the highest price among all buyers, and (2) the distribution of the highest price of each buyer is independent and identically distributed. To measure the performance of the algorithms, the expected competitive ratios, E[OPT]/E[ALG] and E[OPT/ALG], are considered. If the distributions satisfy the monotone hazard rate, for both of the above two variants, constant-competitive algorithms can be achieved. | - |
dc.language | eng | - |
dc.publisher | American Institute of Mathematical Sciences (AIMS Press). The Journal's web site is located at http://www.aimsciences.org/journal/A0000-0001 | - |
dc.relation.ispartof | Mathematical Foundations of Computing | - |
dc.rights | Mathematical Foundations of Computing. Copyright © American Institute of Mathematical Sciences (AIMS Press). | - |
dc.rights | This is a pre-copy-editing, author-produced PDF of an article accepted for publication in [insert journal title] following peer review. The definitive publisher-authenticated version [insert complete citation information here] is available online at: xxxxxxx [insert URL that the author will receive upon publication here]. | - |
dc.subject | Online selling | - |
dc.subject | competitive ratio | - |
dc.subject | monotone hazard rate | - |
dc.title | Constant competitive algorithms for unbounded one-Way trading under monotone hazard rate | - |
dc.type | Article | - |
dc.identifier.email | Zhang, Y: yongzh@hku.hk | - |
dc.identifier.email | Chin, FYL: chin@cs.hku.hk | - |
dc.identifier.email | Lau, FCM: fcmlau@cs.hku.hk | - |
dc.identifier.email | Ting, HF: hfting@cs.hku.hk | - |
dc.identifier.authority | Chin, FYL=rp00105 | - |
dc.identifier.authority | Lau, FCM=rp00221 | - |
dc.identifier.authority | Ting, HF=rp00177 | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.3934/mfc.2018019 | - |
dc.identifier.hkuros | 319619 | - |
dc.identifier.volume | 1 | - |
dc.identifier.issue | 4 | - |
dc.identifier.spage | 383 | - |
dc.identifier.epage | 392 | - |
dc.identifier.eissn | 2577-8838 | - |
dc.identifier.isi | WOS:000453440700005 | - |
dc.publisher.place | United States | - |
dc.identifier.issnl | 2577-8838 | - |