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cs.DS updates on arXiv.org

PAC Learning with Bandit Feedback: Sharp Sample Complexity in the Realizable Setting Algorithms with Polynomially-Improved Approximation Factors for the $2 \rightarrow q$ Norm, and Applications A computational phase transition for learning-to-sample from Ising models Covering vertices by sequential stars Fermi-Dirac machines as quantizations of neurons A Comprehensive Evaluation of Vertex Elimination Algorithms for Algorithmic Differentiation A Tight Bound on Localization of Electrical Flows Optimal Dimension-Free Sampling for Regularized Classification Reducing the Randomness in Partition Oracles for Bounded Degree Minor-Free Graphs Beyond the Half-Approximation: Fair and Efficient Online Class Matching Efficient Uniform Sampling of Surjections via their Profiles Tractable Maximization of Budgeted Phylogenetic Diversity on Networks Utilizing Node Scanwidth Fairness in Aggregation: Optimal Top-$k$ and Improved Full Ranking Learning-Augmented Online Scheduling with Parsimonious Preemption Entropy Equivalence Testing Lumberjack: Better Differentially Private Random Forests through Heavy Hitter Detection in Trees The Secretary Problem with a Stochastic Precursor Polynomial-Time Robust Multiclass Linear Classification under Gaussian Marginals Efficient Banzhaf-Based Data Valuation for $k$-Nearest Neighbors Classification Block-Sphere Vector Quantization An Approximation Algorithm for Graph Label Selection Iterative Chow Filtering for Learning with Distribution Shift Complexity of Non-Log-Concave Sampling in Fisher Information Stochastic Matching via Local Sparsification Finite Sample Bounds for Learning with Score Matching What is Learnable in Valiant's Theory of the Learnable? Provable Quantization with Randomized Hadamard Transform Min-Max Optimization Requires Exponentially Many Queries Fast and Compact Graph Cuts for the Boykov-Kolmogorov Algorithm A proximal gradient algorithm for composite log-concave sampling
Dynamic Pricing for Reusable Resources: The Power of Two ...
Santiago R. Balseiro, Will Ma, Wenxin Zhang · 2023-08-26 · via cs.DS updates on arXiv.org

Motivated by real-world applications such as rental and cloud computing services, we investigate pricing for reusable resources. We consider a system where a single resource with a fixed number of identical copies serves customers with heterogeneous willingness-to-pay (WTP), and the usage duration distribution is general. Optimal dynamic policies are computationally intractable when usage durations are not memoryless, so existing literature has focused on static pricing, which incurs a steady-state performance loss of ${O}(\sqrt{c})$ compared to optimality when supply and demand scale with $c$. We propose a class of dynamic "stock-dependent" policies that 1) are computationally tractable and 2) can attain a steady-state performance loss of $o(\sqrt{c})$. We give parametric bounds based on the local shape of the reward function at the optimal fluid admission probability and show that the performance loss of stock-dependent policies can be as low as ${O}((\log{c})^2)$. We characterize the tight performance loss for stock-dependent policies and show that they can in fact be achieved by a simple two-price policy that sets a higher price when the stock is below some threshold and a lower price otherwise. We extend our results to settings with multiple resources and multiple customer classes. Finally, we demonstrate this "minimally dynamic" class of two-price policies performs well numerically, even in non-asymptotic settings, suggesting that a little dynamicity can go a long way.