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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/648
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| Title: | Mean-variance analysis of the newsvendor model with stockout cost |
| Authors: | Wu, Jun
Li, Jian
Wang, Shouyang
Cheng, T. C. Edwin |
| Subjects: | Supply chain
Newsvendor problem
Mean-variance
Stockout cost |
| Issue Date: | Jun-2009 |
| Publisher: | Elsevier Ltd |
| Citation: | 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. |
| Description: | DOI: 10.1016/j.omega.2008.02.005. 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. |
| Type: | Journal/Magazine Article |
| URI: | http://hdl.handle.net/10397/648 |
| ISSN: | 03050483 |
| Appears in Collections: | LMS Journal/Magazine Articles
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