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dc.contributor.authorCesaret, Bahriye
dc.contributor.authorDawande, M.
dc.contributor.authorRajapakshe, T.
dc.date.accessioned2020-09-02T07:53:20Z
dc.date.available2020-09-02T07:53:20Z
dc.date.issued2019-01
dc.identifier.issn1059-1478en_US
dc.identifier.urihttp://hdl.handle.net/10679/6876
dc.identifier.urihttps://onlinelibrary.wiley.com/doi/abs/10.1111/poms.12905
dc.description.abstractVacation Timeshare is a form of ownership or "right to use" of a resort property for a specific time period (typically a week) each year. Timeshare exchange refers to the non-monetary trading of timeshare weeks among owners, so that they can interchange their vacation homes to experience new destinations. The need for member participation during the exchange process has been well-recognized for a variety of practical reasons, including the reluctance of members to accept an authoritarian solution that does not provide any information about the exchange process and their desire to experience some control over the process. Another important need is to ensure that, given the members' preferences, an exchange solution offers collectively the best-possible improvement over their currently-owned weeks, while being "fair" to all participants. We suggest two objectives to capture the efficiency and fairness of an exchange solution. For the resulting bi-criteria problem, we show that a solution that is simultaneously near-optimal on both objectives may not exist. Our main contribution is an efficient algorithm in which (i) each member uses her private preference list to communicate with other members, and the members, through such communications, collectively achieve an individually rational allocation, and (ii) for any desired approximation bounds alpha and beta on, respectively, efficiency and fairness, the following property holds: if an (alpha, beta)-approximate solution exists, then the solution provided by the algorithm satisfies this approximation guarantee; otherwise, the solution is an alpha-approximation on the efficiency measure and, among all such allocations, has the best fairness measure.en_US
dc.language.isoengen_US
dc.publisherWileyen_US
dc.relation.ispartofProduction and Operations Management
dc.rightsrestrictedAccess
dc.titleOn member‐driven, efficient and fair timeshare exchangesen_US
dc.typeArticleen_US
dc.peerreviewedyesen_US
dc.publicationstatusPublisheden_US
dc.contributor.departmentÖzyeğin University
dc.contributor.authorID(ORCID 0000-0001-8715-0092 & YÖK ID 256439) Cesaret, Bahriye
dc.contributor.ozuauthorCesaret, Bahriye
dc.identifier.volume28en_US
dc.identifier.issue1en_US
dc.identifier.startpage189en_US
dc.identifier.endpage205en_US
dc.identifier.wosWOS:000455019100011
dc.identifier.doi10.1111/poms.12905en_US
dc.subject.keywordsTimeshare exchangeen_US
dc.subject.keywordsBi-criteria optimizationen_US
dc.subject.keywordsApproximation guaranteesen_US
dc.identifier.scopusSCOPUS:2-s2.0-85050606276
dc.contributor.authorFemale1
dc.relation.publicationcategoryArticle - International Refereed Journal - Institution Academic Staff


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