A session‐specific opportunity cost model for rank‐oriented recommendation

Recommender systems are changing the way that people find information, products, and even other people. This paper studies the problem of leveraging the context of the items presented to the user in a user/system interaction session to improve the recommender system's ranking prediction. We propose a novel model that incorporates the opportunity cost of giving up the other items in the session and computes session‐specific relevance values for items for context‐aware recommendation. The model can work on a variety of different problems settings with emphasis on implicit user feedback as it supports varying levels of ordinal relevance. Experimental evaluation demonstrates the advantages of our new model with respect to the ranking quality.