9783631753989.pdf
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...
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Peter Lang International Academic Publishers
2020
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oapen-20.500.12657-42231 |
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oapen-20.500.12657-422312020-10-02T01:09:22Z The Single-Period Inventory Model with Spectral Risk Measures Fichtinger, Johannes Purchasing and supply management bic Book Industry Communication::K Economics, finance, business & management::KJ Business & management::KJM Management & management techniques::KJMV Management of specific areas::KJMV8 Purchasing & supply management 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. 2020-10-01T17:53:36Z 2020-10-01T17:53:36Z 2012 book ONIX_20201001_9783631753989_138 https://library.oapen.org/handle/20.500.12657/42231 eng Forschungsergebnisse der Wirtschaftsuniversitaet Wien application/pdf n/a 9783631753989.pdf Peter Lang International Academic Publishers 10.3726/b13918 10.3726/b13918 e927e604-2954-4bf6-826b-d5ecb47c6555 49 132 Bern open access |
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OAPEN |
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English |
| description |
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. |
| title |
9783631753989.pdf |
| spellingShingle |
9783631753989.pdf |
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9783631753989.pdf |
| title_full |
9783631753989.pdf |
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9783631753989.pdf |
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9783631753989.pdf |
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9783631753989.pdf |
| publisher |
Peter Lang International Academic Publishers |
| publishDate |
2020 |
| _version_ |
1771297482091790336 |
