Juliang Zhang
Abstract
This paper proposes a solution of reducing uncertainty of demand based on the newsboy model,analyzes the influence of dif-ferent factors upon the solution and discusses the changes of the optimal decision while the decision-maker is in risk aversion.
A significance statement is not available in the OpenAlex record.
A contribution statement is not available in the OpenAlex record.
Method details are not available in the OpenAlex metadata.
Findings are not separately available in the OpenAlex metadata.
Limitations are not available in the OpenAlex metadata.
Application details are not available in the OpenAlex metadata.
This paper proposes a solution of reducing uncertainty of demand based on the newsboy model,analyzes the influence of dif-ferent factors upon the solution and discusses the changes of the optimal decision while the decision-maker is in risk aversion.
Key concepts: Newsvendor model, Decision maker, Risk aversion (psychology), Operations research, Computer science, Inventory management, Optimal decision, Decision analysis