The solution of newsvendor Problem based on Value -at-Risk

摘要：

　　This paper seeks to describe and explain managers newsvendor decisions.These decisions may systematically deviate from profit maximization for several reasons.First,a decision maker may have preferences other than profit maximization.For example,a risk-averse decision maker will systematically order less than the profit maximizing order quantity.Second,a decision maker may apply a heuristic to choose an inventory degree.Under the three new decision making rules,this paper discusses the newsvendor problem and obtains the solution of newsvendor problem for loss averse newsvendor.Finally,comparative static effects of changes in the various price and cost are determined and related to the newsvendors loss aversion.

关键词： loss aversion newsvendor problem decision making Value -at-Risk

作者: Ping Wen lingliQin

作者单位: Department of Mathmatics,Xinjiang university of Finance and Economics ,Wulumuqi 830012 China;Departm Department of Mathmatics,Xinjiang university of Finance and Economics ,Wulumuqi 830012 China

会议类型: 国际会议

会议名称: the 25th Chinese Control and Decision Conference(第25届中国控制与决策会议)

会议地点: 贵阳

会议语种:英文

页码: 1029-1033

在线出版日期: 2013-05-01（万方平台首次上网日期，不代表论文的发表时间）