Choice-Based Optimization

Date: 19.07.-22.07.2021

Abstract:

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.

Course Content:

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.

Location:

DIGITAL COURSE
The course will be held online only. The lecturers will give presentations about the theoretical contents. Active participation is compulsory.

Lecturer:

Registration:

Click for information on fees, payment and registration,
or email us: prodok@vhbonline.org.

Registration Deadline: 20. Juni 2021

Marketing Strategy Performance: Theory, Models and Empirical Applications

Date: 05.-08.07.2021

Abstract:

Against the background of increasing pressure from the capital market and major corporate trends such as digitization, marketing managers are more and more forced to demonstrate the performance and value relevance of their decisions. Marketing scholars have responded to this development and produced numerous articles that relate marketing decisions with the creation of market-based assets (e.g. customer satisfaction), product-market performance (e.g., market share), accounting performance (e.g., return on assets), and financial-market performance (e.g., stock returns). The course aims at providing an overview of this literature, both from a conceptual/model-based perspective and from an empirical point of view. After having attended the course, students should be able to:

• Understand central concepts of marketing strategy performance research and be able to establish links between these concepts;
• Understand the basics of market response modeling and recognize the relevance of model specification for the validity of empirical estimation results;
• Understand, categorize, and criticize high-quality (“A+”) articles within the research field;
• Know key data analysis methods within the research field including their scope of application as well as their limitations and conduct first own analyses using standard software (R);
• Develop relevant and interesting research questions with a potential for a high-quality publication.

Location:

ONLINE

Language:

English

Lecturer:

Registration:

Click for information on fees, payment and registration,

or email us: prodok@vhbonline.org.

As this course is offered as an digital course, the participation fee is reduced by 160 Euro.

Registration Deadline: June 6th, 2021