Rational Ezpectations Equilibrium Analysis on Newsvendor Model with Information Transfer
Trading behaviors in a game between buyers and sellers in E-Commerce market are not only a stochastic process, but also reflect the equilibrium of the existence and consistency. Based on newsvendor model, the structure of information asymmetry commodity trading market is designed and constructed. According to transferring value of information attributes, two definitions of equilibrium in two stages are presented and these properties on the equilibrium condition are analyzed. These findings or results reveal that profit value of inventory level in rational expectations equilibrium (REE) is larger than in nonequilibrium. Finally, one numerical example with normal demand function is analyzed to verify the validity of the rational expectations equilibrium.
Bayesian forecasting effort level newsvendor model rational ezpectations equilibrium
Bin Du
School of Information Management Jiangxi University of Finance & Economics Nanchang, P.R.China
国际会议
南昌
英文
355-358
2009-09-01（万方平台首次上网日期，不代表论文的发表时间）