Mean-variance analysis of the newsvendor model with stockout cost

被引：132

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

页码：724 / 730

页数：7

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