Abstract
This paper studies online optimization under inventory (budget) constraints. While online optimization is a well-studied topic, versions with inventory constraints have proven difficult. We consider a formulation of inventory-constrained optimization that is a generalization of the classic one-way trading problem and has a wide range of applications. We present a new algorithmic framework, \textsfCR-Pursuit, and prove that it achieves the minimal competitive ratio among all deterministic algorithms (up to a problem-dependent constant factor) for inventory-constrained online optimization. Our algorithm and its analysis not only simplify and unify the state-of-the-art results for the standard one-way trading problem, but they also establish novel bounds for generalizations including concave revenue functions. For example, for one-way trading with price elasticity, the \textsfCR-Pursuit algorithm achieves a competitive ratio that is within a small additive constant (i.e., 1/3) to the lower bound of ln 0+1, where 0 is the ratio between the maximum and minimum base prices.
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Competitive Online Optimization under Inventory Constraints
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Competitive Online Optimization under Inventory Constraints
SIGMETRICS '19: Abstracts of the 2019 SIGMETRICS/Performance Joint International Conference on Measurement and Modeling of Computer SystemsThis paper studies online optimization under inventory (budget) constraints. While online optimization is a well-studied topic, versions with inventory constraints have proven difficult. We consider a formulation of inventory-constrained optimization ...
Competitive Online Optimization under Inventory Constraints
This paper studies online optimization under inventory (budget) constraints. While online optimization is a well-studied topic, versions with inventory constraints have proven difficult. We consider a formulation of inventory-constrained optimization ...
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