{"id":196,"date":"2021-04-13T16:43:58","date_gmt":"2021-04-13T08:43:58","guid":{"rendered":"http:\/\/172.27.140.174\/?page_id=196"},"modified":"2023-05-03T17:31:06","modified_gmt":"2023-05-03T09:31:06","slug":"revenue-management-and-dynamic-pricing","status":"publish","type":"page","link":"https:\/\/siacorplab.nus.edu.sg\/revenue-management-and-dynamic-pricing\/","title":{"rendered":"Work Package 1 &#8211; Revenue Management and Dynamic Pricing"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"196\" class=\"elementor elementor-196\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-201bca0 elementor-section-full_width elementor-section-height-min-height elementor-section-height-default elementor-section-items-middle\" data-id=\"201bca0\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c9fd5ef\" data-id=\"c9fd5ef\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-123e3a9 elementor-widget elementor-widget-heading\" data-id=\"123e3a9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Revenue Management and Dynamic Pricing<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-38a4f3c elementor-widget elementor-widget-heading\" data-id=\"38a4f3c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Work Package 1<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bda7d12 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"bda7d12\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-11051e7\" data-id=\"11051e7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-6e73f83 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6e73f83\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-0fc3430\" data-id=\"0fc3430\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b96d263 elementor-widget elementor-widget-spacer\" data-id=\"b96d263\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2fddf43 elementor-widget elementor-widget-heading\" data-id=\"2fddf43\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Aim of Work Package<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4ee04e1 elementor-widget elementor-widget-text-editor\" data-id=\"4ee04e1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>This work package aims to develop for SIA a new sense and response capability in the company to perform deep data analytics in airline revenue management under a changing environment.<\/p><p>Expertise, infrastructure, and relevant background work done at NUS\u2019s Institute of Operations Research and Analytics (IORA) would be tapped on to add value to the proposed projects in this work package.<\/p><p>Where applicable, relevant projects in this work package will also be supported by Amadeus, a leading Pricing and Revenue Management Software provider and a partner of SIA, to provide additional access to industry-wide issues and datasets. Through the SIA-Amadeus partnership, SIA is also able to make accessible critical and real-time market data (owned by SIA) to the research team for the purpose of the proposed projects.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-12ec76a elementor-widget elementor-widget-spacer\" data-id=\"12ec76a\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-95e4f82 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"95e4f82\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-35b2159\" data-id=\"35b2159\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3a08a15 elementor-tabs-alignment-center elementor-tabs-view-horizontal elementor-widget elementor-widget-tabs\" data-id=\"3a08a15\" data-element_type=\"widget\" data-settings=\"{&quot;motion_fx_motion_fx_mouse&quot;:&quot;yes&quot;}\" data-widget_type=\"tabs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-tabs\">\n\t\t\t<div class=\"elementor-tabs-wrapper\" role=\"tablist\" >\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-6081\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-6081\" aria-expanded=\"false\">Project 1 - Demand Modeling: Machine Learning on Elasticity Estimation<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-6082\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-6082\" aria-expanded=\"false\">Project 2 \u2013 Data Driven Methods for Fare Class Pricing<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-6083\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-6083\" aria-expanded=\"false\">Project 3 \u2013 Robust Approach for Seat Allocation<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-6084\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"4\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-6084\" aria-expanded=\"false\">Project 4 \u2013Ancillary Optimization<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-6085\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"5\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-6085\" aria-expanded=\"false\">Project 5 \u2013 Simulation Platform and Demand Sensing in Digital Aviation<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<div class=\"elementor-tabs-content-wrapper\" role=\"tablist\" aria-orientation=\"vertical\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-6081\" aria-expanded=\"false\">Project 1 - Demand Modeling: Machine Learning on Elasticity Estimation<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-6081\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-6081\" tabindex=\"0\" hidden=\"false\"><p>Price elasticity measures how the demand shifts with changes in prices. In order to estimate these quantities, the key is to understand the demand model as a function of prices and an assortment of choices. While this important issue has been addressed by various studies using various techniques, the approach used often assumes a simple demand-price structure and ignores the impact of seat allocation on the empirical booking dataset.<\/p><p>The team plans to use modern econometric and machine learning techniques to uncover the willingness-to-pay functions of the customers, in response to the assortment of fare classes offered to face the changing environment.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-6082\" aria-expanded=\"false\">Project 2 \u2013 Data Driven Methods for Fare Class Pricing<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-6082\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-6082\" tabindex=\"0\" hidden=\"hidden\"><p>One of the central limitations in a standard revenue management system is the inability to learn and adapt to the environment. Many IT systems built for the revenue management teams are developed based on past observations and fixated views of the state of the world. Hence many pricing and revenue allocation decisions are made based on wrong assumptions.<\/p><p>In order to overcome these limitations, the team develops in this project a data-driven approach to understand the demand model faced in SIA. This is a key difficulty that has hindered research and development of data-driven approaches in the revenue management literature because of the difficulty to quantify or measure the potential of such approaches. More importantly, this project would allow SIA to validate and access the impact of such techniques on its RM performances.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-6083\" aria-expanded=\"false\">Project 3 \u2013 Robust Approach for Seat Allocation<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-6083\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-6083\" tabindex=\"0\" hidden=\"hidden\"><p>In the airline revenue management system, the business and leisure passengers arrive at book tickets in different manners. For instance, business passengers normally book closer to the day of departure, whereas leisure passengers arrive more uniformly across the booking horizon. These assumptions are used to piece together the expected booking curve for passengers in different segments.<\/p><p>In order to mitigate the impact of the estimation errors in the expected booking curve, the team will analyse this problem in a setting where the demand is learned in a volatile environment.<\/p><p>The goal of this project is to derive a new seat allocation control algorithm, which can perform well without relying on the assumption of a specific booking curve. This study is inspired by recent advances in the use of online algorithms in the machine learning community.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"4\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-6084\" aria-expanded=\"false\">Project 4 \u2013Ancillary Optimization<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-6084\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"4\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-6084\" tabindex=\"0\" hidden=\"hidden\"><p>There is a recent fundamental industry change in the airline sector: an increasing percentage of revenue now comes from ancillary items such as checked baggage, inflight food, premium seat selection, and extra-legroom, etc. Airlines have therefore an opportunity to adopt bundling tactics, product-suggestion analytics etc. \u00a0to create customised recommendations for additional purchases, both at the original point of sale and over the course of the travel journey. Maximising total revenue depends on connecting a customer\u2019s total spending data with that customer\u2019s profile in the airline\u2019s system. Doing this allows for attribute-level customisation, where airlines can segment customers into known groupings by location, demographics, and so forth.<\/p><p>In this project, the above semiparametric choice model will be used, where cross moments were used to model the correlation of preferences for a pair of products or services. In this way, we can convert the pricing problem into a semi-definite programming problem, where advanced solvers have been developed recently to solve this class of problems. We exploit the convexity result in this setting to develop an approximate solution to this difficult problem.<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"5\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-6085\" aria-expanded=\"false\">Project 5 \u2013 Simulation Platform and Demand Sensing in Digital Aviation<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-6085\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"5\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-6085\" tabindex=\"0\" hidden=\"hidden\"><p>This project plans to develop a simulation engine for airline network revenue management, that can be used to replicate the booking arrival dynamic in many different situations and can be used as a digital twin to stress test any new pricing and seat allocation algorithms for the airline.<\/p><p>The team plans to develop a real-time simulation customised to SIA digital aviation ambition, and build in many other capabilities like consumer choice modelling beyond the traditional MNL models, and also sense and response system to provide early warning to change in the operating environment.<\/p><p>The team hopes to develop a unique platform for SIA, that can be further developed, customised, and used to stress test other creative ideas and parameters the aviation sector may have in the future. This project taps on and is dependent on the findings and results of the earlier projects in this work package, where the data collected, models derived and approaches arising from the projects would contribute towards the building of this simulation platform.<\/p><p>The successful development of this simulation platform will provide SIA with a key to \u201cwargame\u201d in real-time to visualise estimated impacts and market reactions to specified market actions or proposed strategic interventions by SIA.<\/p><\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4dd6591 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4dd6591\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d35e444\" data-id=\"d35e444\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-736bc5d elementor-widget elementor-widget-spacer\" data-id=\"736bc5d\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bf892c6 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"bf892c6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-be1d6b6\" data-id=\"be1d6b6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-213ffa4 elementor-widget elementor-widget-heading\" data-id=\"213ffa4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Publications<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-608afc8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"608afc8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1c6eaa3\" data-id=\"1c6eaa3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6d189de elementor-widget elementor-widget-spacer\" data-id=\"6d189de\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-14d6648 elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"14d6648\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3426933\" tabindex=\"-1\"><img decoding=\"async\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/elementor\/thumbs\/WP1-Convex-Optimisation-qvny47q26chiz5yuk22gwbrsnby85yvnqoqrlppvvc.png\" title=\"WP1 Convex Optimisation\" alt=\"\" class=\"elementor-animation-grow\" loading=\"lazy\" \/><\/a><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\"><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3426933\">Convex Optimization for Bundle Size Pricing Problem<\/a><\/h3><p class=\"elementor-image-box-description\">Li Xiaobo, Sun Hailong and Teo Chung Piaw\n<br> <br> \nProblem Statement: We study the bundle size pricing (BSP) problem where a monopolist sells bundles of products to customers, and the price of each bundle depends only on the size (number of items) of the bundle. Although this pricing mechanism is attractive in practice, finding optimal bundle prices is difficult since it involves characterizing distributions of the maximum partial sums of order statistics...\n<\/span><br><br><span style=\"color: rgb(255, 159, 0); font-family: -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, &quot;Noto Sans&quot;, sans-serif; font-style: italic; text-align: center; white-space: normal;\">This research is supported by National Research Foundation, Singapore and A*STAR, under its RIE2020 Industry Alignment Fund \u2013 Industry Collaboration Projects (IAF-ICP) grant call (Grant No. I2001E0059)<\/span>\n<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e102206 elementor-button-info elementor-align-center elementor-widget elementor-widget-button\" data-id=\"e102206\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-xs\" href=\"https:\/\/deliverypdf.ssrn.com\/delivery.php?ID=040088020003014068090066085006112023096031065012091090091115089031084097097082115000002033027047006112028087082117075083092007037094022080065066066090116105117020106025062083007085090072067124081080070097069088065003015099074109103025083082102085119018&#038;EXT=pdf&#038;INDEX=TRUE\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download <\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5dfdfe0 elementor-widget elementor-widget-spacer\" data-id=\"5dfdfe0\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b0bc742 elementor-widget elementor-widget-spacer\" data-id=\"b0bc742\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-160ad7f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"160ad7f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-49833ed\" data-id=\"49833ed\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ccc7e1e elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"ccc7e1e\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3426933\" tabindex=\"-1\"><img decoding=\"async\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/elementor\/thumbs\/WP1-Representative-Consumer-Pricing-1-qvny47q26chiz5yuk22gwbrsnby85yvnqoqrlppvvc.png\" title=\"WP1 Representative Consumer Pricing\" alt=\"\" class=\"elementor-animation-grow\" loading=\"lazy\" \/><\/a><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\"><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3426933\">A Representative Consumer Model in Data-Driven Multi-Product Pricing Optimization<\/a><\/h3><p class=\"elementor-image-box-description\">Yan Zhenzhen, Teo Chung Piaw, Karthik Natarajan, Cong Cheng\n<br> <br> \nProblem Statement: We develop a data-driven approach for the multi-product pricing problem, using the theory of a representative consumer in discrete choice. We establish a set of mathematical relationships between product prices and demand for each product in the system, including that of the outside option. We provide identification conditions to recover the underlying representative consumer model and show that with sufficient pricing experiments, the approach can identify the underlying demand model (more precisely, the associated perturbation function in the representative consumer model) accurately, up to a constant shift and a given tolerance level...\n<\/span><br><br><span style=\"color: rgb(255, 159, 0); font-family: -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, &quot;Noto Sans&quot;, sans-serif; font-style: italic; text-align: center; white-space: normal;\">This research is supported by National Research Foundation, Singapore and A*STAR, under its RIE2020 Industry Alignment Fund \u2013 Industry Collaboration Projects (IAF-ICP) grant call (Grant No. I2001E0059)<\/span>\n<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f4d614 elementor-button-info elementor-align-center elementor-widget elementor-widget-button\" data-id=\"1f4d614\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-xs\" href=\"https:\/\/deliverypdf.ssrn.com\/delivery.php?ID=329118103099080106084085002028071091039031062032035087025120090010084121004121121106000100028032061060029011077080023001120123109012029061028081107067098005070001065070036080066069021026094004119091094000088068082077019089066125127002117110030003027123&#038;EXT=pdf&#038;INDEX=TRUE\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download <\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1abec39 elementor-widget elementor-widget-spacer\" data-id=\"1abec39\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5a76ded elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5a76ded\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1c52c85\" data-id=\"1c52c85\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0e06fec elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"0e06fec\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/epdf\/10.1111\/poms.13921\" tabindex=\"-1\"><img decoding=\"async\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/elementor\/thumbs\/WP1-Buyers-qvny47q26chiz5yuk22gwbrsnby85yvnqoqrlppvvc.png\" title=\"WP1 Buyers\" alt=\"\" class=\"elementor-animation-grow\" loading=\"lazy\" \/><\/a><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\"><a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/epdf\/10.1111\/poms.13921\">From Share-of-Choice to Buyers' Welfare Maximization: Bridging the Gap through Distributionally Robust Optimization, Production and Operations Management<\/a><\/h3><p class=\"elementor-image-box-description\">Maoqi Liu, Li Zheng, Changchun Liu, and Zhi-hai Zhang. \n<br> <br> \nProblem Statement: We study the product design problem where a decision maker selects the features of a product from a set of feasible options. We focus on two widely studied objectives in this field, that is, the share of choice (SOC) and buyers' welfare (BW). The two objectives are vulnerable to different types of customer preference misspecification, that is, deviation from the nominal utility distribution and effects of outliers, respectively....\n<\/span><br><br><span style=\"color: rgb(255, 159, 0); font-family: -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, &quot;Noto Sans&quot;, sans-serif; font-style: italic; text-align: center; white-space: normal;\">This research is supported by National Research Foundation, Singapore and A*STAR, under its RIE2020 Industry Alignment Fund \u2013 Industry Collaboration Projects (IAF-ICP) grant call (Grant No. I2001E0059)<\/span>\n<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-48c56d0 elementor-button-info elementor-align-center elementor-widget elementor-widget-button\" data-id=\"48c56d0\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-xs\" href=\"https:\/\/deliverypdf.ssrn.com\/delivery.php?ID=329118103099080106084085002028071091039031062032035087025120090010084121004121121106000100028032061060029011077080023001120123109012029061028081107067098005070001065070036080066069021026094004119091094000088068082077019089066125127002117110030003027123&#038;EXT=pdf&#038;INDEX=TRUE\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download <\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-fbb7b10 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fbb7b10\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b5b565f\" data-id=\"b5b565f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c9454c5 elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"c9454c5\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/epdf\/10.1111\/poms.14013\" tabindex=\"-1\"><img decoding=\"async\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/elementor\/thumbs\/Picking-Winners-WP1-qvny47q26chiz5yuk22gwbrsnby85yvnqoqrlppvvc.png\" title=\"Picking Winners WP1\" alt=\"\" class=\"elementor-animation-grow\" loading=\"lazy\" \/><\/a><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\"><a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/epdf\/10.1111\/poms.14013\">Picking Winners: Diversification through Portfolio Optimization<\/a><\/h3><p class=\"elementor-image-box-description\">Ju Liu, Changchun Liu, Chung Piaw Teo <br> <br>\nProblem Statement: We develop a general framework for selecting a small pool of candidate solutions to maximize the chances that one will be optimal for a combinatorial optimization problem, under a linear and additive random payoff function. We formulate this problem using a two-stage distributionally robust model, with a mixed 0\u20131 semidefinite program. This approach allows us to exploit the \u201cdiversification\u201d effect inherent in the problem to address how different candidate solutions can be selected to improve the chances that one will attain a high ex....\n<\/span><br><br>\n<span style=\"color: rgb(255, 159, 0); font-family: -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, &quot;Noto Sans&quot;, sans-serif; font-style: italic; text-align: center; white-space: normal;\">This research is supported by National Research Foundation, Singapore and A*STAR, under its RIE2020 Industry Alignment Fund \u2013 Industry Collaboration Projects (IAF-ICP) grant call (Grant No. I2001E0059)<\/span>\n<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-faeed5d elementor-button-info elementor-align-center elementor-widget elementor-widget-button\" data-id=\"faeed5d\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-xs\" href=\"https:\/\/onlinelibrary.wiley.com\/doi\/epdf\/10.1111\/poms.14013\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download <\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c99addf elementor-widget elementor-widget-spacer\" data-id=\"c99addf\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-78b2c13 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"78b2c13\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e9d56de\" data-id=\"e9d56de\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-aa4a987 elementor-widget elementor-widget-heading\" data-id=\"aa4a987\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-large\">Events and Workshops<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8efcf19 elementor--h-position-center elementor--v-position-middle elementor-arrows-position-inside elementor-pagination-position-inside elementor-widget elementor-widget-slides\" data-id=\"8efcf19\" data-element_type=\"widget\" data-settings=\"{&quot;navigation&quot;:&quot;both&quot;,&quot;autoplay&quot;:&quot;yes&quot;,&quot;pause_on_hover&quot;:&quot;yes&quot;,&quot;pause_on_interaction&quot;:&quot;yes&quot;,&quot;autoplay_speed&quot;:5000,&quot;infinite&quot;:&quot;yes&quot;,&quot;transition&quot;:&quot;slide&quot;,&quot;transition_speed&quot;:500}\" data-widget_type=\"slides.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-swiper\">\n\t\t\t<div class=\"elementor-slides-wrapper elementor-main-swiper swiper\" dir=\"ltr\" data-animation=\"\">\n\t\t\t\t<div class=\"swiper-wrapper elementor-slides\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-repeater-item-c559384 swiper-slide\"><div class=\"swiper-slide-bg\" role=\"img\"><\/div><div class=\"elementor-background-overlay\"><\/div><a class=\"swiper-slide-inner\" href=\"https:\/\/siacorplab.nus.edu.sg\/technical-sharing-session-4-customer-behaviour-prediction\/\"><div class=\"swiper-slide-contents\"><div class=\"elementor-slide-heading\">Technical Sharing Session #4<\/div><div class=\"elementor-slide-description\">Customer Behaviour Prediction: Random Forest Approach\n<br>\n4 March 2022<\/div><div  class=\"elementor-button elementor-slide-button elementor-size-xs\">Click Here<\/div><\/div><\/a><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-de375af elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"de375af\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4f762a3\" data-id=\"4f762a3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-74d474d elementor-widget elementor-widget-spacer\" data-id=\"74d474d\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-164bdd1 elementor-widget elementor-widget-heading\" data-id=\"164bdd1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Team<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9e2ea44 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9e2ea44\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ab559db\" data-id=\"ab559db\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3592420 elementor-widget elementor-widget-spacer\" data-id=\"3592420\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9e04447 elementor-grid-5 elementor-grid-mobile-2 elementor-grid-tablet-2 elementor-widget elementor-widget-portfolio\" data-id=\"9e04447\" data-element_type=\"widget\" data-settings=\"{&quot;columns&quot;:&quot;5&quot;,&quot;columns_mobile&quot;:&quot;2&quot;,&quot;masonry&quot;:&quot;yes&quot;,&quot;columns_tablet&quot;:&quot;2&quot;,&quot;item_gap&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;row_gap&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"portfolio.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-portfolio elementor-grid elementor-posts-container\">\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-1369 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1-researchers\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/liu-changchun\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/05\/CC-Liu-2.jpg\" class=\"attachment-large size-large wp-image-1560\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/05\/CC-Liu-2.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/05\/CC-Liu-2-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tLiu Changchun\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-3512 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1-researchers\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/chen-yan\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/ChenYan.jpg\" class=\"attachment-large size-large wp-image-3515\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/ChenYan.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/ChenYan-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tChen Yan\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-3649 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1-researchers\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/mao-ruijiu\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/1-Cropped.jpg\" class=\"attachment-large size-large wp-image-4210\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/1-Cropped.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/1-Cropped-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tMao Ruijiu\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-4578 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1-researchers\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/zhang-xun\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2022\/06\/Zhang-Xun.jpg\" class=\"attachment-large size-large wp-image-4581\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2022\/06\/Zhang-Xun.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2022\/06\/Zhang-Xun-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tZhang Xun\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-4766 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1-researchers\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/jin-xiao\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2022\/10\/edited-JINXIAO.jpg\" class=\"attachment-large size-large wp-image-4768\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2022\/10\/edited-JINXIAO.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2022\/10\/edited-JINXIAO-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tJin Xiao\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-4789 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1-researchers\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/aadhar-dutta\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2022\/11\/SelfPortrait-Cropped.jpg\" class=\"attachment-large size-large wp-image-4790\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2022\/11\/SelfPortrait-Cropped.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2022\/11\/SelfPortrait-Cropped-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tAadhar Dutta\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-5576 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1-researchers\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/zhang-jiajie\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2024\/08\/Photo-ZHANG.jpg\" class=\"attachment-large size-large wp-image-5578\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2024\/08\/Photo-ZHANG.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2024\/08\/Photo-ZHANG-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tZhang Jiajie\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-3673 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1-sia\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/deryk-liew\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/Deryk-Liew-Cropped.jpg\" class=\"attachment-large size-large wp-image-3674\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/Deryk-Liew-Cropped.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/Deryk-Liew-Cropped-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tDeryk Liew\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-4830 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1-phd-student\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/guo-gang\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2023\/01\/SIA_Gang_Photo.jpg\" class=\"attachment-large size-large wp-image-4831\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2023\/01\/SIA_Gang_Photo.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2023\/01\/SIA_Gang_Photo-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tGuo Gang\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-4840 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1-phd-student\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/wu-lan\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2023\/01\/Picture.jpg\" class=\"attachment-large size-large wp-image-4841\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2023\/01\/Picture.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2023\/01\/Picture-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tWu Lan\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-5591 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1-phd-student\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/ren-junjie\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2024\/10\/Ren-Junjie.jpg\" class=\"attachment-large size-large wp-image-5592\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2024\/10\/Ren-Junjie.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2024\/10\/Ren-Junjie-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tRen Junjie\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-2405 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/teo-chung-piaw\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/05\/teo-chung-piaw-informs-thumb-3.jpg\" class=\"attachment-large size-large wp-image-1737\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/05\/teo-chung-piaw-informs-thumb-3.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/05\/teo-chung-piaw-informs-thumb-3-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tTeo Chung Piaw\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-3665 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/tim-lee\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/Tim-Lee-WP1.jpg\" class=\"attachment-large size-large wp-image-3666\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/Tim-Lee-WP1.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/Tim-Lee-WP1-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tTim Lee\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-3670 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/kong-chung-wai\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/Chung-Wai.jpg\" class=\"attachment-large size-large wp-image-3671\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/Chung-Wai.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/12\/Chung-Wai-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tKong Chung Wai\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-portfolio-item elementor-post  post-1255 people type-people status-publish has-post-thumbnail hentry people_categories-work-package-1-researchers\">\n\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/siacorplab.nus.edu.sg\/people\/li-xiaobo\/\">\n\t\t\t\t<div class=\"elementor-portfolio-item__img elementor-post__thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"550\" src=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/05\/Li-XB.jpg\" class=\"attachment-large size-large wp-image-1580\" alt=\"\" srcset=\"https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/05\/Li-XB.jpg 450w, https:\/\/siacorplab.nus.edu.sg\/wp-content\/uploads\/2021\/05\/Li-XB-245x300.jpg 245w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-portfolio-item__overlay\">\n\t\t\t\t<h3 class=\"elementor-portfolio-item__title\">\n\t\tLi Xiaobo\t\t<\/h3>\n\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t<\/article>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-89991f6 elementor-widget elementor-widget-spacer\" data-id=\"89991f6\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Revenue Management and Dynamic Pricing Work Package 1 Aim of Work Package This work package aims to develop for SIA a new sense and response capability in the company to perform deep data analytics in airline revenue management under a changing environment. Expertise, infrastructure, and relevant background work done at NUS\u2019s Institute of Operations Research [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-196","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/siacorplab.nus.edu.sg\/wp-json\/wp\/v2\/pages\/196"}],"collection":[{"href":"https:\/\/siacorplab.nus.edu.sg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/siacorplab.nus.edu.sg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/siacorplab.nus.edu.sg\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/siacorplab.nus.edu.sg\/wp-json\/wp\/v2\/comments?post=196"}],"version-history":[{"count":10,"href":"https:\/\/siacorplab.nus.edu.sg\/wp-json\/wp\/v2\/pages\/196\/revisions"}],"predecessor-version":[{"id":5010,"href":"https:\/\/siacorplab.nus.edu.sg\/wp-json\/wp\/v2\/pages\/196\/revisions\/5010"}],"wp:attachment":[{"href":"https:\/\/siacorplab.nus.edu.sg\/wp-json\/wp\/v2\/media?parent=196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}