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Meituan.com is a group-discount website that sells vouchers from merchants for deals, subject to a minimum number of buyers who demand a discount, from which Meituan generates commissions. [3] Meituan.com generates most of its revenue from mobile application services. The company has partnering agreements with over 400,000 local Chinese businesses.
The company has been working on improving its algorithms, releasing new model versions every few months. Version 2 of their algorithm was launched in April 2022, [10] and version 3 on July 25. [11] On November 5, 2022, the alpha iteration of version 4 was released to users. [12] [13] On March 15, 2023, the alpha iteration of version 5 was ...
Formal model. Hyperbolic discounting is mathematically described as. where g ( D) is the discount factor that multiplies the value of the reward, D is the delay in the reward, and k is a parameter governing the degree of discounting (for example, the interest rate ). This is compared with the formula for exponential discounting:
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