Decision Model for Market of Performing Arts with Factorization Machine

  • Yong Xu (徐 勇)
  • Qian Tang (唐 倩)
  • Linzao Hou (侯林早)
  • Mian Li (李 冕)
Article

Abstract

Performing arts and movies have become commercial products with high profit and great market potential. Previous research works have developed comprehensive models to forecast the demand for movies. However, they did not pay enough attention to the decision support for performing arts which is a special category unlike movies. For performing arts with high-dimensional categorical attributes and limit samples, determining ticket prices in different levels is still a challenge job faced by the producers and distributors. In terms of these difficulties, factorization machine (FM), which can handle huge sparse categorical attributes, is used in this work first. Adaptive stochastic gradient descent (ASGD) and Markov chain Monte Carlo (MCMC) are both explored to estimate the model parameters of FM. FM with ASGD (FM-ASGD) and FM with MCMC (FM-MCMC) both can achieve a better prediction accuracy, compared with a traditional algorithm. In addition, the multi-output model is proposed to determine the price in multiple price levels simultaneously, which avoids the trouble of the models’ repeating training. The results also confirm the prediction accuracy of the multi-output model, compared with those from the general single-output model.

Key words

performing arts factorization machine (FM) Markov chain Monte Carlo (MCMC) adaptive stochastic gradient descent (ASGD) 

CLC number

TP 391 

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Notes

Acknowledgement

Special thanks are given to SMEG Performing Arts Group of Shanghai for their collaboration during the work.

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Copyright information

© Shanghai Jiaotong University and Springer-Verlag GmbH Germany, part of Springer Nature 2018

Authors and Affiliations

  • Yong Xu (徐 勇)
    • 1
  • Qian Tang (唐 倩)
    • 2
  • Linzao Hou (侯林早)
    • 2
  • Mian Li (李 冕)
    • 2
  1. 1.Shanghai United Media GroupShanghaiChina
  2. 2.University of Michigan - Shanghai Jiao Tong University Joint InstituteShanghai Jiao Tong UniversityShanghaiChina

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