Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/11334
Title: Loss-averse newsvendor model with two ordering opportunities and market information updating
Authors: Ma, L
Zhao, Y
Xue, W
Cheng, TCE 
Yan, H
Keywords: Information update
Loss averse
Quick response
Supply chain management
Issue Date: 2012
Publisher: Elsevier
Source: International journal of production economics, 2012, v. 140, no. 2, p. 912-921 How to cite?
Journal: International journal of production economics 
Abstract: A fashion supply chain characterized by a long lead time and a short selling season is considered in this paper. Facing demand uncertainty, the risk averse retailer has two opportunities to make order decisions before the demand is realized. The risk aversion is modelled as a penalty to the decision maker (the retailer) if a target profit is not attained. We derive the retailers optimal ordering decisions and analyze the monotonicity behaviours of the critical market signal, the optimal first-stage order quantity, and the optimal expected payoff with respect to the penalty coefficient. We also examine the impact of demand forecast quality on the retailers decisions and extend the study to the case where order cancellation is allowed.
Description: This Special Issue includes a selection of papers which originally were presented and discussed at the Sixteenth International Working Seminar on Production Economics, Innsbruck, March 1–5, 2010
URI: http://hdl.handle.net/10397/11334
ISSN: 0925-5273
DOI: 10.1016/j.ijpe.2012.07.012
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