Demand Prediction for Time-Expiring Inventory
AssigneeAirbnb, Inc.
InventorsYangli Hector Yee, Li Zhang, Carla Pellicano, Peng Ye
Life of this patent
Estimating the term…
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AssigneeAirbnb, Inc.
InventorsYangli Hector Yee, Li Zhang, Carla Pellicano, Peng Ye
Estimating the term…
This disclosure includes methods for predicting demand based on the price of a time-expiring inventory. An online system provides a connection between a manager of a time-expiring inventory and a plurality of clients. The online system provides a listing for the manager's time-expiring inventory to clients on the online system. The manager specifies the price of the time-expiring inventory in the listing and is presented with price tips generated by the online system. A demand function predicts the demand for the time-expiring inventory based on features of the listing and the time-expiring inventory. A manager option function predicts the likelihood of acceptance of a price tip by the manager. The online system uses the demand function and the manager option function to create a Monte Carlo pricing model to provide to the manager price tips for the listing.
A computer-executed method comprising:
Dependencies are inferred from the claim text.