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E-commerce marketplaces are highly dynamic with constant competition. While this competition is challenging for many merchants, it also provides plenty of opportunities, e.g., by allowing them to automatically adjust prices in order to react to changing market situations. For practitioners however, testing automated pricing strategies is time-consuming and potentially hazardously when done in production. Researchers, on the other side, struggle to study how pricing strategies interact under heavy competition. As a consequence, we built an open continuous time framework to simulate dynamic pricing competition called Price Wars. The microservice-based architecture provides a scalable platform for large competitions with dozens of merchants and a large random stream of consumers. Our platform stores each event in a distributed log. This allows to provide different performance measures enabling users to compare profit and revenue of various repricing strategies in real-time. For researchers, price trajectories are shown which ease evaluating mutual price reactions of competing strategies. Furthermore, merchants can access historical marketplace data and apply machine learning. By providing a set of customizable, artificial merchants, users can easily simulate both simple rule-based strategies as well as sophisticated data-driven strategies using demand learning to optimize their pricing strategies.
Many markets are characterized by pricing competition. Typically, competitors are involved that adjust their prices in response to other competitors with different frequencies. We analyze stochastic dynamic pricing models under competition for the sale of durable goods. Given a competitor’s pricing strategy, we show how to derive optimal response strategies that take the anticipated competitor’s price adjustments into account. We study resulting price cycles and the associated expected long-term profits. We show that reaction frequencies have a major impact on a strategy’s performance. In order not to act predictable our model also allows to include randomized reaction times. Additionally, we study to which extent optimal response strategies of active competitors are affected by additional passive competitors that use constant prices. It turns out that optimized feedback strategies effectively avoid a decline in price. They help to gain profits, especially, when aggressive competitor s are involved.
TPC-H continues to be the most widely used benchmark for relational OLAP systems. It poses a number of challenges, also known as "choke points", which database systems have to solve in order to achieve good benchmark results. Examples include joins across multiple tables, correlated subqueries, and correlations within the TPC-H data set. Knowing the impact of such optimizations helps in developing optimizers as well as in interpreting TPC-H results across database systems.
This paper provides a systematic analysis of choke points and their optimizations. It complements previous work on TPC-H choke points by providing a quantitative discussion of their relevance. It focuses on eleven choke points where the optimizations are beneficial independently of the database system. Of these, the flattening of subqueries and the placement of predicates have the biggest impact. Three queries (Q2, Q17, and Q21) are strongly ifluenced by the choice of an efficient query plan; three others (Q1, Q13, and Q18) are less influenced by plan optimizations and more dependent on an efficient execution engine.
Data encoding has been applied to database systems for decades as it mitigates bandwidth bottlenecks and reduces storage requirements. But even in the presence of these advantages, most in-memory database systems use data encoding only conservatively as the negative impact on runtime performance can be severe. Real-world systems with large parts being infrequently accessed and cost efficiency constraints in cloud environments require solutions that automatically and efficiently select encoding techniques, including heavy-weight compression. In this paper, we introduce workload-driven approaches to automaticaly determine memory budget-constrained encoding configurations using greedy heuristics and linear programming. We show for TPC-H, TPC-DS, and the Join Order Benchmark that optimized encoding configurations can reduce the main memory footprint significantly without a loss in runtime performance over state-of-the-art dictionary encoding. To yield robust selections, we extend the linear programming-based approach to incorporate query runtime constraints and mitigate unexpected performance regressions.