Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/648
Title: | Mean-variance analysis of the newsvendor model with stockout cost | Authors: | Wu, J Li, J Wang, S Cheng, TCE |
Issue Date: | Jun-2009 | Source: | Omega, June 2009, v. 37, no. 3, p. 724-730 | Abstract: | We study the risk-averse newsvendor model with a mean-variance objective function. We show that stockout cost has a significant impact on the newsvendor's optimal ordering decisions. In particular, with stockout cost, the risk-averse newsvendor does not necessarily order less than the risk-neutral newsvendor. We illustrate this finding analytically for the case where the demand follows the power distribution. | Keywords: | Supply chain Newsvendor problem Mean-variance Stockout cost |
Publisher: | Pergamon Press | Journal: | Omega | ISSN: | 0305-0483 | EISSN: | 1873-5274 | DOI: | 10.1016/j.omega.2008.02.005 | Description: | Note: Pre-published version entitled: A Note on Mean-variance Analysis of the Newsvendor Model with Stockout Cost. | Rights: | Omega © 2008 Elsevier Ltd. The journal web site is located at http://www.sciencedirect.com. |
Appears in Collections: | Journal/Magazine Article |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
A Note on Mean-variance Analysis of the Newsvendor Model - final.pdf | Pre-published version | 212.42 kB | Adobe PDF | View/Open |
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