Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/62353
DC FieldValueLanguage
dc.contributorDepartment of Industrial and Systems Engineering-
dc.creatorXu, X-
dc.creatorMeng, Z-
dc.creatorJi, P-
dc.creatorDang, C-
dc.creatorWang, H-
dc.date.accessioned2016-12-19T09:00:19Z-
dc.date.available2016-12-19T09:00:19Z-
dc.identifier.issn0020-7543-
dc.identifier.urihttp://hdl.handle.net/10397/62353-
dc.language.isoenen_US
dc.publisherTaylor & Francisen_US
dc.subjectOpportunity lossen_US
dc.subjectOptimal order quantityen_US
dc.subjectInventoryen_US
dc.subjectConditional value-at-risken_US
dc.titleOn the newsvendor model with conditional value-at-risk of opportunity lossen_US
dc.typeJournal/Magazine Articleen_US
dc.identifier.spage2449-
dc.identifier.epage2458-
dc.identifier.volume54-
dc.identifier.issue8-
dc.identifier.doi10.1080/00207543.2015.1100765-
dcterms.abstractTo manage the risk arising from uncertainty in market demand, this paper introduces the Conditional Value-at-Risk (CVaR) measure into the decision framework of the newsvendor who aims to minimise his opportunity loss. It is found under the CVaR measure that the newsvendor's optimal order quantity is increasing in the confidence level when the understock loss is bigger than the overstock loss. This implies that an over-ordering may be even more caused by the newsvendor's risk aversion about opportunity loss than risk seeking behaviour. Under this optimal order quantity, it is proved that the newsvendor's expected profit and expected opportunity loss are decreasing and increasing in the confidence level, respectively. Furthermore, some management insights are presented to facilitate the risk management of the newsvendor model.-
dcterms.bibliographicCitationInternational journal of production research, 2016, v. 54, no. 8, p. 2449-2458-
dcterms.isPartOfInternational journal of production research-
dcterms.issued2016-
dc.identifier.isiWOS:000373740300018-
dc.identifier.eissn1366-588X-
dc.identifier.rosgroupid2015002345-
dc.description.ros2015-2016 > Academic research: refereed > Publication in refereed journal-
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