The loss-averse newsvendor problem

被引：244

作者：

Wang, Charles X. ^{[1
]}

Webster, Scott ^{[2
]}

机构：

[1] SUNY Buffalo, Sch Management, Buffalo, NY 14260 USA

[2] Syracuse Univ, Whitman Sch Management, Syracuse, NY 13244 USA

来源：

OMEGA-INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE | 2009年 / 37卷 / 01期

关键词：

inventory; loss aversion; newsvendor model; NEWSBOY PROBLEM; RESALABLE RETURNS; MODEL; CHOICE; SALES; RISK;

D O I：

10.1016/j.omega.2006.08.003

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

Newsvendor models are widely used in the literature, and usually based upon the assumption of risk neutrality. This paper uses loss aversion to model manager's decision-making behavior in the single-period newsvendor problem. We find that if shortage cost is not negligible, then a loss-averse newsvendor may order more than a risk-neutral newsvendor. We also find that the loss-averse newsvendor's optimal order quantity may increase in wholesale price and decrease in retail price, which can never occur in the risk-neutral newsvendor model. (C) 2006 Elsevier Ltd. All rights reserved.

引用

页码：93 / 105

页数：13

共 33 条

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