The Single-Period Inventory Model with Spectral Risk Measures
Inventory management and pricing decisions based on quantitative models both in industrial practice and academic works often rely on minimizing expected cost, which refers to the concept of risk-neutrality of the decision maker. Although many useful insights in operational problems can be obtained b...
Saved in:
| Main Author: | |
|---|---|
| Format: | Book Chapter |
| Published: |
Bern
Peter Lang International Academic Publishing Group
2012
|
| Subjects: | |
| Online Access: | Get Fullteks DOAB: description of the publication |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| LEADER | 01818naaaa2200253uu 4500 | ||
|---|---|---|---|
| 001 | doab_20_500_12854_31333 | ||
| 005 | 20210210 | ||
| 020 | |a b13918 | ||
| 024 | 7 | |a 10.3726/b13918 |c doi | |
| 041 | 0 | |a English | |
| 042 | |a dc | ||
| 072 | 7 | |a KJMV8 |2 bicssc | |
| 100 | 1 | |a Fichtinger, Johannes |4 auth | |
| 245 | 1 | 0 | |a The Single-Period Inventory Model with Spectral Risk Measures |
| 260 | |a Bern |b Peter Lang International Academic Publishing Group |c 2012 | ||
| 300 | |a 1 electronic resource (132 p.) | ||
| 506 | 0 | |a Open Access |2 star |f Unrestricted online access | |
| 520 | |a Inventory management and pricing decisions based on quantitative models both in industrial practice and academic works often rely on minimizing expected cost, which refers to the concept of risk-neutrality of the decision maker. Although many useful insights in operational problems can be obtained by such an approach, it is well understood that incorporating attitudes toward risk is an important lever for building new theories in other fields such as economics and finance. In this work spectral risk measures are applied to the price-setting newsvendor problem and optimal policies are derived. This allows to unify results obtained so far in the literature under the common concept of spectral risk measures for the case of zero and non-zero shortage penalty cost. | ||
| 540 | |a Creative Commons |f https://creativecommons.org/licenses/by/4.0 |2 cc |4 https://creativecommons.org/licenses/by/4.0 | ||
| 546 | |a English | ||
| 650 | 7 | |a Purchasing & supply management |2 bicssc | |
| 653 | |a Purchasing and supply management | ||
| 856 | 4 | 0 | |a www.oapen.org |u https://library.oapen.org/bitstream/20.500.12657/42231/1/9783631753989.pdf |7 0 |z Get Fullteks |
| 856 | 4 | 0 | |a www.oapen.org |u https://directory.doabooks.org/handle/20.500.12854/31333 |7 0 |z DOAB: description of the publication |