2018/02/09 by Themis Mavridis, Mavridis, Themis, P. A. Estévez +3
Business, Management and Accounting · Engineering · #FOS: Computer and information sciences #Information Retrieval (cs.IR) #Sharing Economy and Platforms #Transportation and Mobility Innovations
paper · pdf · doi:10.48550/arxiv.1802.03102
openalex publication_date 2018/02/09 · openalex created_date 2022/10/02 · openalex updated_date 2026/07/28
Booking.com is a virtual two-sided marketplace where guests and accommodation providers are the two distinct stakeholders. They meet to satisfy their respective and different goals. Guests want to be able to choose accommodations from a huge and diverse inventory, fast and reliably within their requirements and constraints. Accommodation providers desire to reach a reliable and large market that maximizes their revenue. Finding the best accommodation for the guests, a problem typically addressed by the recommender systems community, and finding the best audience for the accommodation providers, are key pieces of a good platform. This work describes how Booking.com extends such approach, enabling the guests themselves to find the best accommodation by helping them to discover their needs and restrictions, what the market can actually offer, reinforcing good decisions, discouraging bad ones, etc. turning the platform into a decision process advisor, as opposed to a decision maker. Booking.com implements this idea with hundreds of Machine Learned Models, all of them validated through rigorous Randomized Controlled Experiments. We further elaborate on model types, techniques, methodological issues and challenges that we have faced.