We propose a demand estimation method that allows researchers to estimate substitution patterns from unstructured image and text data. We first employ a series of machine learning models to measure product similarity from products' images and textual descriptions. We then estimate a nested logit model with product-pair specific nesting parameters that depend on the image and text similarities between products. Our framework does not require collecting product attributes for each category and can capture product similarity along dimensions that are hard to account for with observed attributes. We apply our method to a dataset describing the behavior of Amazon shoppers across several categories and show that incorporating texts and images in demand estimation helps us recover a flexible cross-price elasticity matrix.

The second edition of a comprehensive state-of-the-art graduate level text on microeconometric methods, substantially revised and updated. The second edition of this acclaimed graduate text provides a unified treatment of two methods used in contemporary econometric research, cross section and data panel methods. By focusing on assumptions that can be given behavioral content, the book maintains an appropriate level of rigor while emphasizing intuitive thinking. The analysis covers both linear and nonlinear models, including models with dynamics and/or individual heterogeneity. In addition to general estimation frameworks (particular methods of moments and maximum likelihood), specific linear and nonlinear methods are covered in detail, including probit and logit models and their multivariate, Tobit models, models for count data, censored and missing data schemes, causal (or treatment) effects, and duration analysis. Econometric Analysis of Cross Section and Panel Data was the first graduate econometrics text to focus on microeconomic data structures, allowing assumptions to be separated into population and sampling assumptions. This second edition has been substantially updated and revised. Improvements include a broader class of models for missing data problems; more detailed treatment of cluster problems, an important topic for empirical researchers; expanded discussion of "generalized instrumental variables" (GIV) estimation; new coverage (based on the author's own recent research) of inverse probability weighting; a more complete framework for estimating treatment effects with panel data, and a firmly established link between econometric approaches to nonlinear panel data and the "generalized estimating equation" literature popular in statistics and other fields. New attention is given to explaining when particular econometric methods can be applied; the goal is not only to tell readers what does work, but why certain "obvious" procedures do not. The numerous included exercises, both theoretical and computer-based, allow the reader to extend methods covered in the text and discover new insights.

Many online markets are characterized by sellers that stock large numbers of products and sell each product infrequently. At the same time, consumer browsing information is typically tracked by online retailers and is much more abundant than purchase data. We propose a demand model that caters to this type of setting. Our approach, which is based on search and purchase data, is computationally light and allows for flexible substitution patterns. We apply the model to a data set containing browsing and purchase information from a retailer stocking over 500 products, recover the elasticity matrix, and solve for optimal prices for the entire assortment.

Implement machine learning, cognitive services, and artificial intelligence solutions by leveraging Azure cloud technologies Key FeaturesLearn advanced concepts in Azure ML and the Cortana Intelligence Suite architectureExplore ML Server using SQL Server and HDInsight capabilitiesImplement various tools in Azure to build and deploy machine learning modelsBook Description Implementing Machine learning (ML) and Artificial Intelligence (AI) in the cloud had not been possible earlier due to the lack of processing power and storage. However, Azure has created ML and AI services that are easy to implement in the cloud. Hands-On Machine Learning with Azure teaches you how to perform advanced ML projects in the cloud in a cost-effective way. The book begins by covering the benefits of ML and AI in the cloud. You will then explore Microsoft’s Team Data Science Process to establish a repeatable process for successful AI development and implementation. You will also gain an understanding of AI technologies available in Azure and the Cognitive Services APIs to integrate them into bot applications. This book lets you explore prebuilt templates with Azure Machine Learning Studio and build a model using canned algorithms that can be deployed as web services. The book then takes you through a preconfigured series of virtual machines in Azure targeted at AI development scenarios. You will get to grips with the ML Server and its capabilities in SQL and HDInsight. In the concluding chapters, you’ll integrate patterns with other non-AI services in Azure. By the end of this book, you will be fully equipped to implement smart cognitive actions in your models. What you will learnDiscover the benefits of leveraging the cloud for ML and AIUse Cognitive Services APIs to build intelligent botsBuild a model using canned algorithms from Microsoft and deploy it as a web serviceDeploy virtual machines in AI development scenariosApply R, Python, SQL Server, and Spark in AzureBuild and deploy deep learning solutions with CNTK, MMLSpark, and TensorFlowImplement model retraining in IoT, Streaming, and Blockchain solutionsExplore best practices for integrating ML and AI functions with ADLA and logic appsWho this book is for If you are a data scientist or developer familiar with Azure ML and cognitive services and want to create smart models and make sense of data in the cloud, this book is for you. You’ll also find this book useful if you want to bring powerful machine learning services into your cloud applications. Some experience with data manipulation and processing, using languages like SQL, Python, and R, will aid in understanding the concepts covered in this book

This two-volume set (LNAI 9875 and LNAI 9876) constitutes the refereed proceedings of the 8th International Conference on Collective Intelligence, ICCCI 2016, held in Halkidiki, Greece, in September 2016. The 108 full papers presented were carefully reviewed and selected from 277 submissions. The aim of this conference is to provide an internationally respected forum for scientific research in the computer-based methods of collective intelligence and their applications in (but not limited to) such fields as group decision making, consensus computing, knowledge integration, semantic web, social networks and multi-agent systems.

This book examines recent developments in Operations Management, and focuses on four major application areas: dynamic pricing, assortment optimization, supply chain and inventory management, and healthcare operations. Data-driven optimization in which real-time input of data is being used to simultaneously learn the (true) underlying model of a system and optimize its performance, is becoming increasingly important in the last few years, especially with the rise of Big Data.