Robust price-setting newsvendor problem
Web开馆时间：周一至周日7:00-22:30 周五 7:00-12:00; 我的图书馆 WebThe price-setting newsvendor problem is well studied in the literature. However, it is commonly assumed that retailers have complete demand information modeled as a function of price and random noi... A Robust Price‐Setting Newsvendor Problem - He - 2024 - Production and Operations Management - Wiley Online Library Skip to Article Content
Robust price-setting newsvendor problem
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WebThis paper studies a loss-averse newsvendor problem with reference dependence, where both demand and yield rate are stochastic. We obtain the loss-averse newsvendor’s optimal ordering policy and analyze the effects of loss aversion, reference dependence, random demand and yield on it. It is shown that the loss-averse newsvendor’s optimal order … Weboperations literature. Our results explain, unify and complement previous work on price-setting newsvendor ... uni ed approach and provide robust, non-parametric ... the newsvendor problem by Petruzzi and Dada (1999). Some representative NVP works include Karlin and Carr (1962), Lau and Lau (1988), Mills (1959), Nevins (1966), Yao, Chen and …
WebJun 27, 2024 · The distributionally robust newsvendor model is often used in this case where the worst-case expected profit is maximized over the set of distributions satisfying the known information, which is usually the mean and covariance of demands. However, covariance does not capture information on asymmetry of the demand distribution. WebSep 1, 2024 · The price-setting newsvendor problem has been thoroughly analyzed as shown in the survey of Petruzzi and Dada (1999). For the linear additive demand case considered in this paper, Whitin (1955) and Mills (1959) proposed the early formulations of this problem and characterized its optimal solutions.
WebApr 24, 2014 · Wang et al. [ 46] propose an efficient computational procedure to solve a distributionally robust newsvendor problem with an ambiguity set containing all distributions that achieve a certain level of likelihood given a … Webconditions of a price-setting newsvendor problem for the additive and multiplicative demand. In the samecontext,Carrizosa Emilio and Olivares-Nadal, Pepa (2016) proposed an approach to explore a single-item newsvendor problem under a new setting which combines temporal dependence and tractable robust optimization when the demand is
WebJan 1, 2015 · The two methods in Beutel and Minner (2012) are quite cognate to the first two approaches in our work described below; however, the extensions required for the price-setting newsvendor problem are ...
WebJan 8, 2005 · The newsboy problem is a classical inventory problem that is very significant in terms of both theoretical and practical considerations. Items that can be classified under single-period inventory systems include Christmas trees, new-year greeting cards, and of course daily newspapers. it has been taken care of alreadyWebIn this study, we consider the price-setting newsvendor problem in which the retailer knows the expected demand on a few exercised price points and the distribution of the random … neet exam 2020 resultsWebApr 9, 2024 · We develop a practical procedure for solving the price-setting newsvendor problem employing (a) statistical estimation methods to recover only three distinct aspects of the demand distribution: the mean, quantile and superquantile, and (b) price optimization methods to estimate the optimal solution. neet exam 2022 pdfWebYu et al. (2013)’s work developed a price-setting newsvendor problem with fuzzy price-dependent demand. ... robust optimal models and solution methodologies for fixed prices, to which the use ... it has been suggested that 意味WebOct 15, 2015 · Multi-item single-period inventory problem We next consider a multi-item case faced by the retailer without initial inventory. Assume that there are n items available. The unit ordering cost, unit selling price and unit salvage value are denoted by wi, pi and si, respectively, for the i th product. neet exam 2021 paperWebOne major extension of the newsvendor problem was the extension of the decision variables to include price as well as quantity. This extension has been known for decades, but recently gained new life, as researchers have expended considerable energy in analysing and exploring this scenario. it has been suggested that rotating cylindersWebIn spite of the high level of interest in inventory control that has sprung up recently among statisticians, economists, and businessmen, very little has been written that indicates the fundamental connection between price theory and inventory control. Most of the inventory control systems now in operation assume a given price structure. neet exam 2022 online form