The price of luxury goods predicting with hybrid model

Zheng Zhi

doi:10.1117/12.2641917

10 November 2022 The price of luxury goods predicting with hybrid model

Zheng Zhi

Proceedings Volume 12348, 2nd International Conference on Artificial Intelligence, Automation, and High-Performance Computing (AIAHPC 2022); 123480Y (2022) https://doi.org/10.1117/12.2641917
Event: 2nd International Conference on Artificial Intelligence, Automation, and High-Performance Computing (AIAHPC 2022), 2022, Zhuhai, China

Abstract

When customers purchase a luxury, they need to compare the price of different goods. Due to the particular characteristics of the luxury markets, there are some phenomenon of premium. In our paper, we focus on the price of luxury bags forecasting from some important features, such as brands, skin type, number of components, volume and production. The prediction problem could be seen as creating a regression model. In this paper, the dataset is from the internet by web crawlers. We have 27 raw features, such as brand, bag name, etc. Then we do the preprocessing to divide these features into three parts: continuous features, ordered categorical features and unordered categorical features. We hybrid the MLP and AdaBoost model, and compare our hybrid model with other models to evaluate model’s performance. The metrics is RMSE. The RMSE score of our model is 1627.94 which is 1263.55, 1369.62, 1199.18, 520.18 lower than Linear Regression, SVR, MLP and AdaBoost respectively.

Citation Download Citation

Zheng Zhi "The price of luxury goods predicting with hybrid model", Proc. SPIE 12348, 2nd International Conference on Artificial Intelligence, Automation, and High-Performance Computing (AIAHPC 2022), 123480Y (10 November 2022); https://doi.org/10.1117/12.2641917

ACCESS THE FULL ARTICLE

INSTITUTIONAL
Select your institution to access the SPIE Digital Library.

SELECT YOUR INSTITUTION

PERSONAL
Sign in with your SPIE account to access your personal subscriptions or to use specific features such as save to my library, sign up for alerts, save searches, etc.

PERSONAL SIGN IN

No SPIE Account? Create one

PURCHASE THIS CONTENT

SUBSCRIBE TO DIGITAL LIBRARY

50 downloads per 1-year subscription

Members: $195

Non-members: $335 ADD TO CART

25 downloads per 1 - year subscription

Members: $145

Non-members: $250 ADD TO CART

PURCHASE SINGLE ARTICLE

Includes PDF, HTML & Video, when available