Expected value of distribution information for the newsvendor problem
成果类型：
Article
署名作者：
Yue, Jinfeng; Chen, Bintong; Wang, Min-Chiang
署名单位：
Middle Tennessee State University; Washington State University
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.1060.0318
发表日期：
2006
页码：
1128-1136
关键词：
摘要：
This paper extends previous work on the distribution-free newsvendor problem, where only partial information about the demand distribution is available. More specifically, the analysis assumes that the demand distribution f belongs to a class of probability distribution functions (pdf) F with mean mu and standard deviation sigma. While previous work has examined the expected value of distribution information (EVDI) for a particular order quantity and a particular pdf f, this paper aims at computing the maximum EVDI over all f is an element of F for any order quantity. In addition, an optimization procedure is provided to calculate the order quantity that minimizes the maximum EVDI.