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...
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| Κύριος συγγραφέας: | |
|---|---|
| Μορφή: | Online |
| Γλώσσα: | Αγγλικά |
| Έκδοση: |
Peter Lang International Academic Publishers
2021
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| Θέματα: | |
| Διαθέσιμο Online: | ONIX_20201001_9783631753989_138 |
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| _version_ | 1869520361784082432 |
|---|---|
| author | Fichtinger, Johannes |
| author_browse | Fichtinger, Johannes |
| author_facet | Fichtinger, Johannes |
| author_sort | Fichtinger, Johannes |
| collection | Directory of Open Access Books |
| 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. |
| format | Online |
| id | doab-20.500.12854ir-31333 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2021 |
| publishDateRange | 2021 |
| publishDateSort | 2021 |
| publisher | Peter Lang International Academic Publishers |
| publisherStr | Peter Lang International Academic Publishers |
| record_format | ojs |
| spelling | doab-20.500.12854ir-313332025-07-30T10:22:11Z The Single-Period Inventory Model with Spectral Risk Measures Fichtinger, Johannes Purchasing and supply management thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV8 Purchasing and supply management thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV8 Purchasing and 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. 2021-02-10T13:49:41Z 2021-02-10T13:49:41Z 2020-10-01T17:53:36Z 2012 book ONIX_20201001_9783631753989_138 OCN: 1086266704 https://library.oapen.org/handle/20.500.12657/42231 https://directory.doabooks.org/handle/20.500.12854/31333 eng Forschungsergebnisse der Wirtschaftsuniversitaet Wien open access image/jpeg image/jpeg image/jpeg n/a n/a n/a https://library.oapen.org/bitstream/20.500.12657/42231/1/9783631753989.pdf https://library.oapen.org/bitstream/20.500.12657/42231/1/9783631753989.pdf https://library.oapen.org/bitstream/20.500.12657/42231/1/9783631753989.pdf Peter Lang International Academic Publishers 10.3726/b13918 10.3726/b13918 44a712f0-ee17-4c08-a667-46effed595e7 132 Bern open access |
| spellingShingle | Purchasing and supply management thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV8 Purchasing and supply management thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV8 Purchasing and supply management Fichtinger, Johannes The Single-Period Inventory Model with Spectral Risk Measures |
| title | The Single-Period Inventory Model with Spectral Risk Measures |
| title_full | The Single-Period Inventory Model with Spectral Risk Measures |
| title_fullStr | The Single-Period Inventory Model with Spectral Risk Measures |
| title_full_unstemmed | The Single-Period Inventory Model with Spectral Risk Measures |
| title_short | The Single-Period Inventory Model with Spectral Risk Measures |
| title_sort | single period inventory model with spectral risk measures |
| topic | Purchasing and supply management thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV8 Purchasing and supply management thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV8 Purchasing and supply management |
| topic_facet | Purchasing and supply management thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV8 Purchasing and supply management thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV8 Purchasing and supply management |
| url | ONIX_20201001_9783631753989_138 |
| work_keys_str_mv | AT fichtingerjohannes thesingleperiodinventorymodelwithspectralriskmeasures AT fichtingerjohannes singleperiodinventorymodelwithspectralriskmeasures |