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State-of-the-art item recommendation algorithms, which apply Factorization Machines (FM) as a scoring function and pairwise ranking loss as a trainer (PRFM for short), have been recently investigated for the implicit feedback based context-aware recommendation problem (IFCAR). However, good recommenders particularly emphasize on the accuracy near the top of the ranked list, and typical pairwise loss functions might not match well with such a requirement. In this paper, we demonstrate, both theoretically and empirically, PRFM models usually lead to non-optimal item recommendation results due to such a mismatch. Inspired by the success of LambdaRank, we introduce Lambda Factorization Machines (LambdaFM), which is particularly intended for optimizing ranking performance for IFCAR. We also point out that the original lambda function suffers from the issue of expensive computational complexity in …