[NRG] Reminder: Joseph: Optimal Marketing Strategies over a Social Network @ Mon Mar 29 4pm - 5:30pm (NRG at BU)

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Wed Mar 24 16:00:14 EDT 2010

This is a reminder for:

Title: Joseph: Optimal Marketing Strategies over a Social Network
Title: Optimal Marketing Strategies over Social Networks, Jason Hartline
Vahab Mirrokni and Mukund Sundararajan, WWW 2008

Speaker: Joseph Akinwumi

We discuss the use of social networks in implementing viral marketing  
strategies. While influence maximization has been studied in this context  
(see Chapter 24 of [10]), we study revenue maximization, arguably, a more  
natural objective. In our model, a buyer's decision to buy an item is  
influenced by the set of other buyers that own the item and the price at  
which the item is offered. We focus on algorithmic question of finding  
revenue maximizing marketing strategies. When the buyers are completely  
symmetric, we can find the optimal marketing strategy in polynomial time.  
In the general case, motivated by hardness results, we investigate  
approximation algorithms for this problem. We identify a family of  
strategies called influence-and-exploit strategies that are based on the  
following idea: Initially influence the population by giving the item for  
free to carefully a chosen set of buyers. Then extract revenue from the  
remaining buyers using a greedy pricing strategy. We first argue why such  
strategies are reasonable and then show how to use recently developed  
set-function maximization techniques to find the right set of buyers to  

When: Mon Mar 29 4pm – 5:30pm Eastern Time
Where: CS Grad Lounge
Calendar: NRG at BU
     * jorge.londono at gmail.com - creator

Event details:  

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