A multi-product risk-averse newsvendor with exponential utility function
نویسندگان
چکیده
منابع مشابه
A multi-product risk-averse newsvendor with exponential utility function
We consider a multi-product newsvendor using an exponential utility function. We first establish a few basic properties for the newsvendor regarding the convexity of the model and monotonicity of the impact of risk aversion on the solution. When the product demands are independent and the ratio of the degree of risk aversion to the number of products is sufficiently small, we obtain closed-form...
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This paper examines a single-period inventory problem with random capacity and demand, where the loss-averse preference is adopted to describe the newsvendor’s decision-making behavior. When the loss-averse newsvendor orders, the supplier has some random replenishment capacity. He will choose an order quantity to maximize his expected utility. The newsvendor’s optimal ordering policy is obtaine...
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ژورنال
عنوان ژورنال: European Journal of Operational Research
سال: 2011
ISSN: 0377-2217
DOI: 10.1016/j.ejor.2011.04.005