Bayesian demand updating in the lost sales newsvendor problem: A two-moment approximation
نویسندگان
چکیده
منابع مشابه
Bayesian demand updating in the lost sales newsvendor problem: A two-moment approximation
We consider Bayesian updating of demand in a lost sales newsvendor model with censored observations. In a lost sales environment, where the arrival process is not recorded, the exact demand is not observed if it exceeds the beginning stock level, resulting in censored observations. Adopting a Bayesian approach for updating the demand distribution, we develop expressions for the exact posteriors...
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ژورنال
عنوان ژورنال: European Journal of Operational Research
سال: 2007
ISSN: 0377-2217
DOI: 10.1016/j.ejor.2006.08.035