Optimized Decision of the Bounded Rationality Newsboy under CVaR
For the problem of the bounded rationality newsboys order decision,we use the CVaR risk measurement criteria,the Arrow-Pratt risk aversion parameter and utility function,to establish a more realistic bounded rationality newsboy model,and optimized the model with the buy-back contract and revenue sharing contract.Result shows that the existence of bounded rationality deteriorate the supply chains performance,and different level of bounded rationality degree need different coordinate contract to reach the optimal order.Buyback contract is available in amending ordering decisions with low levels of bounded rationality newsboy,while higher levels of bounded rationality newsboy required revenue sharing contract in order to achieve the optimal profit.This result helps retailers considering bounded rationality factors which bring the decision-making bias,and provides order inspirations for all types of retailers in real life.
Supply Chain Management Newsboy Model CVaR Bounded Rationality
Yongmei Liu Sixuan Chen
Business School,Central South University,Changsha 410083,China
国际会议
长沙
英文
2696-2701
2014-05-31（万方平台首次上网日期，不代表论文的发表时间）