کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
1032851 | 943266 | 2012 | 11 صفحه PDF | دانلود رایگان |

This paper evaluates the pricing and ordering policies of a retailer, facing a price-dependent stochastic demand, within a newsvendor framework, under different degrees of risk tolerance and under a variety of optimizing objectives. These are (i) maximizing expected profit, for a retailer who may be risk-seeker, risk-averse or risk neutral; (ii) deriving a maximin strategy of maximizing a minimum guaranteed profit and (iii) modeling the probability of exceeding a target profit, as a constraint or as an objective. Some analytical properties and numerical examples illustrate the main features of the models and provide some comparative policy analysis across the model.
► Extends the newsvendor model with price dependent demand.
► General framework to incorporate risk neutral risk-averse and risk taking behavior.
► Alternate criteria such as min–max and probability of achieving target explored.
Journal: Omega - Volume 40, Issue 2, April 2012, Pages 188–198