1 finding competitive price yu peng (hong kong university of science and technology) raymond...
DESCRIPTION
1. Introduction HotelPrice ($) h1h1 100 h2h2 250 h3h3 200 h4h H = {h 1, h 2, h 3, h 4 } A = {a 1 } hotels attraction-site (e.g., Sea World) h4h4 a1a1 h2h2 h3h3 h1h1 Spatial LayoutPrice HotelDistance-to- SeaWorld (km) Price ($) h1h h2h h3h h4h Decision-Making Table According to the spatial layout and the price information, we can generate a decision table. Consider that a customer looks for a hotel near to Sea World 3TRANSCRIPT
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1
Finding Competitive Price
Yu Peng (Hong Kong University of Science and Technology)Raymond Chi-Wing Wong (Hong Kong University of Science and
Technology)
Presented by TedPrepared by Raymond Chi-Wing Wong
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Outline1. Introduction2. Problem Definition3. Algorithm
Spatial Approach4. Discussion5. Empirical Study6. Related Work7. Conclusion
2
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1. Introduction
Hotel Price ($)
h1 100h2 250h3 200h4 220
3
H = {h1, h2, h3 , h4}A = {a1}
hotels
attraction-site (e.g., Sea World)
h4
a1
h2
h3 h
1
Spatial Layout Price
Hotel
Distance-to-SeaWorld (km)
Price ($)
h1 3.0 100h2 1.0 250h3 4.0 200h4 2.5 220
Decision-Making Table
According to the spatial layout and the price information, we can generate adecision table.
Consider that a customer looks for a hotel near to Sea World
3
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1. Introduction
Hotel Price ($)
h1 100h2 250h3 200h4 220
4
H = {h1, h2, h3 , h4}A = {a1}
hotels
attraction-site (e.g., Sea World)
h4
a1
h2
h3 h
1
Spatial Layout Price
Hotel
Distance-to-SeaWorld (km)
Price ($)
h1 3.0 100h2 1.0 250h3 4.0 200h4 2.5 220
Decision-Making Table
Consider that a customer looks for a hotel near to Sea World
h1 dominates h3 (since h1 is better than h3 in terms of Distance-to-SeaWorld and Price).
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1. Introduction
Hotel Price ($)
h1 100h2 250h3 200h4 220
5
H = {h1, h2, h3 , h4}A = {a1}
hotels
attraction-site (e.g., Sea World)
h4
a1
h2
h3 h
1
Spatial Layout Price
Hotel
Distance-to-SeaWorld (km)
Price ($)
h1 3.0 100h2 1.0 250h3 4.0 200h4 2.5 220
Decision-Making Table
Consider that a customer looks for a hotel near to Sea World
h2 does not dominate h3 (since h2 has a shorter Distance-to-SeaWorld than h3 but h2 has a higher price than h3.)
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1. Introduction
Hotel Price ($)
h1 100h2 250h3 200h4 220
6
H = {h1, h2, h3 , h4}A = {a1}
hotels
attraction-site (e.g., Sea World)
h4
a1
h2
h3 h
1
Spatial Layout Price
Hotel
Distance-to-SeaWorld (km)
Price ($)
h1 3.0 100h2 1.0 250h3 4.0 200h4 2.5 220
Decision-Making Table
Consider that a customer looks for a hotel near to Sea World
Skyline: a set of hotels which are not dominated by other hotels
Skyline = {h1, h2, h4}
h3 is dominated by h1
A set of all “best” possible hotels
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1. Introduction
Hotel Price ($)
h1 100h2 250h3 200h4 220
7
H = {h1, h2, h3 , h4}A = {a1}
hotels
attraction-site (e.g., Sea World)
h4
a1
h2
h3 h
1
Spatial Layout Price
Hotel
Distance-to-SeaWorld (km)
Price ($)
h1 3.0 100h2 1.0 250h3 4.0 200h4 2.5 220
Decision-Making Table
Consider that a new company wants to open a new hotel hf
hf
, hf}
hf ? hf 2.0 ?
How can we set the price of hf?
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1. Introduction
Hotel Price ($)
h1 100h2 250h3 200h4 220
8
H = {h1, h2, h3 , h4}A = {a1}
hotels
attraction-site (e.g., Sea World)
h4
a1
h2
h3 h
1
Spatial Layout Price
Hotel
Distance-to-SeaWorld (km)
Price ($)
h1 3.0 100h2 1.0 250h3 4.0 200h4 2.5 220
Decision-Making Table
Consider that a new company wants to open a new hotel hf
hf
, hf}
hf ? hf 2.0 ?
300hf is dominated by h2.
$300 is not a competitive price.
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1. Introduction
Hotel Price ($)
h1 100h2 250h3 200h4 220
9
H = {h1, h2, h3 , h4}A = {a1}
hotels
attraction-site (e.g., Sea World)
h4
a1
h2
h3 h
1
Spatial Layout Price
Hotel
Distance-to-SeaWorld (km)
Price ($)
h1 3.0 100h2 1.0 250h3 4.0 200h4 2.5 220
Decision-Making Table
Consider that a new company wants to open a new hotel hf
hf
, hf}
hf ? hf 2.0 ?
230hf is not dominated by any hotel.
$230 is a competitive price.
Problem (Finding Simple Competitive Price): Given a set of existing hotels and a new hotel hf, what greatest possible price can we set for hf such that hf is in the skyline?
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1. Introduction
Hotel Price ($)
h1 100h2 250h3 200h4 220
10
H = {h1, h2, h3 , h4}A = {a1}
hotels
attraction-site (e.g., Sea World)
h4
a1
h2
h3 h
1
Spatial Layout Price
Hotel
Distance-to-SeaWorld (km)
Price ($)
h1 3.0 100h2 1.0 250h3 4.0 200h4 2.5 220
Decision-Making Table
Consider that a new company wants to open a new hotel hf
hf
, hf}
hf ? hf 2.0 ?
230hf does not dominate any hotel.
In order to make sure that hf is chosen by customers with a higher probability, we would like to set the price of hf such that1. hf is in the skyline2. hf dominates at least K hotels where K is a user parameter.
Problem (Finding Simple Competitive Price): Given a set of existing hotels and a new hotel hf, what greatest possible price can we set for hf such that hf is in the skyline?
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1. Introduction
Hotel Price ($)
h1 100h2 250h3 200h4 220
11
H = {h1, h2, h3 , h4}A = {a1}
hotels
attraction-site (e.g., Sea World)
h4
a1
h2
h3 h
1
Spatial Layout Price
Hotel
Distance-to-SeaWorld (km)
Price ($)
h1 3.0 100h2 1.0 250h3 4.0 200h4 2.5 220
Decision-Making Table
Consider that a new company wants to open a new hotel hf
hf
, hf}
hf ? hf 2.0 ?
230hf dominates one hotel (i.e., h4).
In order to make sure that hf is chosen by customers with a higher probability, we would like to set the price of hf such that1. hf is in the skyline2. hf dominates at least K hotels where K is a user parameter. 21
0$210 is a 1-dominating competitive price.
Problem (Finding K-Dominating Competitive Price): Given a set of existing hotels, a new hotel hf and an integer K,what greatest possible price can we set for hf such that (1) hf is in the skylineand (2) hf dominates at least K hotels.
Finding K-Dominating Competitive Price is more general than Finding Simple Competitive Price.
Problem (Finding Simple Competitive Price): Given a set of existing hotels and a new hotel hf, what greatest possible price can we set for hf such that hf is in the skyline?
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1. Introduction In this paper, we study the problem of
“finding K-dominating competitive price” Contributions:
First to study this problem Most existing studies focus on how to find hotels
in the skyline when the prices of the hotels are given.
Propose an algorithm based on spatial properties
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Outline1. Introduction2. Problem Definition3. Algorithm
Spatial Approach4. Discussion5. Empirical Study6. Related Work7. Conclusion
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1. Introduction
Hotel Price ($)
h1 100h2 250h3 200h4 220
14
H = {h1, h2, h3 , h4}A = {a1}
hotels
attraction-site (e.g., Sea World)
h4
a1
h2
h3 h
1
Spatial Layout Price
Hotel
Distance-to-SeaWorld (km)
Price ($)
h1 3.0 100h2 1.0 250h3 4.0 200h4 2.5 220
Decision-Making Table
Consider that a new company wants to open a new hotel hf
hf
, hf}
hf ? hf 2.0 ?
A can contain more than one attraction-site{a1, a2, a3}
a2 a
3
Problem (Finding K-Dominating Competitive Price): Given a set of existing hotels, a new hotel hf and an integer K,what greatest possible price can we set for hf such that (1) hf is in the skylineand (2) hf dominates at least K hotels.
Skyline requirementK-dominating requirement
distance to a1
…
…
…
…
…
distance to a2
…
…
…
…
…
distance to a3
…
…
…
…
…
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Outline1. Introduction2. Problem Definition3. Algorithm
Spatial Approach4. Discussion5. Empirical Study6. Related Work7. Conclusion
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3. Algorithm Properties Algorithm
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3. Algorithm Properties
2 properties for Skyline Requirement 1 property for K-dominating
Requirement
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3. Algorithm 2 Properties for Skyline Requirement
Convex Hull Property Suppose that hf is in the convex hull of A.
hf is in the skyline no matter what price we set for hf.
18
Spatial Layout
hf
h4
a1
h2
h3 h
1a2 a
3
Convex hull
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3. Algorithm 2 Properties for Skyline
Requirement Non-Convex Hull Property
Notations: I and U
19
Spatial Layout
h4
a1
h2
h3 h
1a2 a
3hf
I
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3. Algorithm 2 Properties for Skyline
Requirement Non-Convex Hull Property
Notations: I and U
20
Spatial Layout
h4
a1
h2
h3 h
1a2 a
3hf
U
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3. Algorithm 2 Properties for Skyline Requirement
Non-Convex Hull Property Suppose that hf is in the convex hull of A. If we set the price to be minh∈I h.p, then hf is
in the skyline
21
Spatial Layout
h4
a1
h2
h3 h
1a2 a
3hf
Suppose I contain some hotels. We set the smallest price among these hotels in I.
Otherwise, we can set any price.
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3. Algorithm Properties
2 properties for Skyline Requirement 1 property for K-dominating
Requirement
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3. Algorithm 1 property for K-dominating
Requirement Suppose that there are at least K
service-sites not in U. If we set the price to be the K-th greatest price among all hotels not in U, then hf dominates at least K hotels.
23
Spatial Layout
h4
a1
h2
h3 h
1a2 a
3hf
Suppose K = 2.
We set the price of hf to be the 2nd greatest price among these 3 hotels.
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3. Algorithm Properties Algorithm
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3. Algorithm find I and U find the convex hull of A (i.e., CH(A)) find the price (pricesky) based on 2 properties for the
skyline requirement
find the price (pricedom) based on 1 property for the K-dominating requirement
price ← min{pricesky, pricedom} return price
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3. Algorithm find I and U find the convex hull of A (i.e., CH(A)) find the price (pricesky) based on 2 properties for the
skyline requirement
find the price (pricedom) based on 1 property for the K-dominating requirement
price ← min{pricesky, pricedom} return price
26
if hf is inside CH(A) then pricesky ← ∞else pricesky ← minh∈I h.p
pricedom ← the K-th greatest price among all service-sites not in U
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Outline1. Introduction2. Problem Definition3. Algorithm
Spatial Approach4. Discussion5. Empirical Study6. Related Work7. Conclusion
27
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4. Discussion Handling Multiple Non-spatial
Attributes How to set K
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1. Introduction
Hotel Price ($)
h1 100h2 250h3 200h4 220
29
H = {h1, h2, h3 , h4}A = {a1}
hotels
attraction-site (e.g., Sea World)
h4
a1
h2
h3 h
1
Spatial Layout Price
Hotel
Distance-to-SeaWorld (km)
Price ($)
h1 3.0 100h2 1.0 250h3 4.0 200h4 2.5 220
Decision-Making Table
Consider that a new company wants to open a new hotel hf
hf
, hf}
hf ? hf 2.0 ?
A can contain more than one attraction-site{a1, a2, a3}
a2 a
3
Problem (Finding K-Dominating Competitive Price): Given a set of existing hotels, a new hotel hf and an integer K,what greatest possible price can we set for hf such that (1) hf is in the skylineand (2) hf dominates at least K hotels.
distance to a1
…
…
…
…
…
distance to a2
…
…
…
…
…
distance to a3
…
…
…
…
…
Each hotel can be incorporated with multiple non-spatial attributes.
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4. Discussion Handling Multiple Non-spatial
Attributes How to set K
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4. Discussion How to set K
Existing Models in Economic and Business Research Studying Customer Retention/Attrition (e.g., demand-and-supply model)
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Outline1. Introduction2. Problem Definition3. Algorithm
Spatial Approach4. Discussion5. Empirical Study6. Related Work7. Conclusion
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5. Empirical Study Dataset
Real Dataset Surf Hotel 20,000 hotels 4 attraction-sites
Synthetic Dataset Objects in North American (e.g., roads, populated
places and Cultural Landmarks) from Digital Chart of the World
200,000 hotels 20 attraction-sites
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5. Empirical Study Algorithms
Our Algorithm (3-Phase) Without Index With Index
Two Competitive Algorithms Blind
Try a set of possible prices in an increment count of 0.01 (i.e., 0.01, 0.02, 0.03, …)
For each possible price, test whether it satisfies the skyline requirement and the K-dominating requirement.
Pick the greatest price which satisfies the 2 requirements
Guided Similar to Blind But, try a set of possible prices of existing hotels.
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5. Empirical Study Default Parameter
K = 20
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5. Empirical Study Measurements
Price pmax,s denotes pricesky used in the algorithm pmax,d denotes pricedom used in the
algorithm pmax denotes the final price used in the
algorithm Query Time
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5. Empirical Study
37
Synthetic dataset
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5. Empirical Study
38
Real dataset
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Outline1. Introduction2. Problem Definition3. Algorithm
Spatial Approach4. Discussion5. Empirical Study6. Related Work7. Conclusion
39
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6. Related Work Skyline
One example is “spatial skyline” (VLDB06 and TODS09)
Price is given Application of Using Skyline
KDD08: Find Customer Preferences Based on Skylines VLDB09: Find a Set of Products which are in the Skyline
Most existing studies assume that an attribute value of a service-site is given. In this paper, we study how to find an attribute value, specifically price, of a new service-site.
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Outline1. Introduction2. Problem Definition3. Algorithm
Spatial Approach4. Discussion5. Empirical Study6. Related Work7. Conclusion
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7. Conclusion Finding K-Dominating Competitive
Price First one to study the problem
Spatial Approach Experiments
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Q&A
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Backup Slides
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5. Empirical Study
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Synthetic dataset
No. of attractions
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5. Empirical Study
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Synthetic dataset
No. of hotels