Mean-variance analysis of the newsvendor model with stockout cost

被引：128
|
作者：
Wu, Jun [2 ]
Li, Jian [3 ,4 ]
Wang, Shouyang [3 ]
Cheng, T. C. E. [1 ]
机构：
[1] Hong Kong Polytech Univ, Dept Logist, Kowloon, Hong Kong, Peoples R China
[2] Beijing Univ Posts & Telecommun, Sch Econ & Management, Beijing 100876, Peoples R China
[3] Chinese Acad Sci, Inst Syst Sci, Acad Math & Syst Sci, Beijing 100080, Peoples R China
[4] Beijing Univ Chem Technol, Coll Econ & Management, Beijing 100029, Peoples R China
来源：
OMEGA-INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE | 2009年 / 37卷 / 03期
基金：
中国国家自然科学基金;
关键词：
Supply chain; Newsvendor problem; Mean-variance; Stockout cost; SUPPLY CHAIN RISK; COORDINATION; MANUFACTURER;
D O I：
10.1016/j.omega.2008.02.005
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
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. (c) 2008 Elsevier Ltd. All rights reserved.
引用
收藏
页码：724 / 730
页数：7
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