Home Events - OPTIMA OPTIMA Seminar Series 06 April 2022


Apr 06 2022


4:00 pm - 5:00 pm



OPTIMA Seminar Series 06 April 2022

Speaker: Dr Lusheng Shao -University of Melbourne

Nash Games for Capacity Reservation

In this talk, I will discuss two game theoretical models about capacity reservation. The general problem we consider involves a buyer first reserving capacity from multiple suppliers and then using the capacity to generate revenue. The suppliers compete by offering a two-dimensional price (i.e., reservation price and execution price), and our focus is on the suppliers’ bidding behaviours in this setting. The first model considers a discrete version of the problem in which the suppliers each owning a block of capacity determine two scalar prices, and the buyer is restricted to reserve the whole block or nothing. The second model considers a continuous version of the problem in which the suppliers can bid in the form of supply functions and the buyer can reserve any amount of capacity. We characterize Nash equilibria for the suppliers and study the properties of the equilibria.

Bio: Dr Lusheng Shao is an Associate Professor of Operations Management in the Department of Management and Marketing at the University of Melbourne. He is currently Area Head of the Operations Management group and is also an academic fellow in Melbourne Business School’s Center for Business Analytics and the Faculty’s Centre for Asian Business and Economics. Dr Shao obtained a PhD in Operations Management and Business Analytics from the University of Sydney. He has held visiting positions at John M. Olin Business School, Washington University in St. Louis and Warwick Business School, University of Warwick.

His research interests include competition in supply chains, contract and incentives, and more recently, agricultural operations. Dr Shao’s research has appeared in leading operations management journals, including Operations Research, Manufacturing & Service Operations Management, Production and Operations Management, European Journal of Operational Research, and Decision Sciences. He has won several teaching and research awards.

Dr Shao is currently an Associate Editor of Decision Sciences and serves on the Editorial Board of Production and Operations Management. He also reviews regularly for other journals including MS, MSOM, and EJOR.


ZOOM MEETING ID: 873 1557 5255; PASSWORD: 778635

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Apr 06 2022

Advancing an industry-ready optimisation toolkit, while training a new generation of industry practitioners and over 120 young researchers, who will vanguard a highly skilled workforce of change agents for industrial transformation.

Monash University
Clayton, Victoria, 3080

University of Melbourne
Parkville, Victoria, 3010

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