کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7355373 | 1477509 | 2018 | 32 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Coping with risk management and fill rate in the loss-averse newsvendor model
ترجمه فارسی عنوان
مقابله با مدیریت ریسک و پر کردن نرخ در مدل خبری ناخوشایند
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
سایر رشته های مهندسی
مهندسی صنعتی و تولید
چکیده انگلیسی
In this paper, we introduce the CVaR (Conditional Value-at-Risk) measure to hedge against the risks for the loss-averse newsvendor. We derive the optimal order quantities for the loss-averse newsvendor to maximize the CVaR objective of utility with and without the shortage cost, respectively. It is shown that when shortage cost is not considered, an increase in the degree of loss aversion leads to a decrease in the fill rate. Therefore the newsvendor should strike a balance between the two conflicting targets in selecting the optimal order quantity. When the shortage cost is taken into account and sufficiently large, it is proved that an increase in the degree of loss aversion leads to an increase in the fill rate. To manage both of the two targets, the newsvendor should order more items in this case. Our sensitivity analysis further verifies that high risk implies high return and low risk comes with low return. Based on the analysis, some management insights for the risk management of the loss-averse newsvendor are presented.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Journal of Production Economics - Volume 195, January 2018, Pages 296-310
Journal: International Journal of Production Economics - Volume 195, January 2018, Pages 296-310
نویسندگان
Xinsheng Xu, Chi Kin Chan, Andre Langevin,