On the Structure of Cardinality Constrained Assortment Optimization
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Cardinality-Constrained assortment optimization, the problem of offering an assortment of items of constrained size that will maximize expected revenue, is generally regarded as a challenging problem. We provide a new perspective to the structural analysis, one that illuminates the optimality of “greedy solutions.” The approach reinterprets some known results for standard choice models but also provides some new ones as well.