How larger demand variability may lead to lower costs in the newsvendor problem
成果类型：
Article
署名作者：
Ridder, A; Van der Laan, E; Salomon, M
署名单位：
Vrije Universiteit Amsterdam; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Tilburg University
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.46.6.934
发表日期：
1998
页码：
934-936
关键词：
摘要：
In this paper we consider the Newsvendor Problem. Intuition may lead to the hypothesis that in this stochastic inventory problem a higher demand variability results in larger variances and in higher costs. In a recent paper, Song (1994a) has proved that the intuition is correct far many demand distributions that are commonly used in practice, such as for the normal distribution function. However, this paper shows that there exist demand distributions for which the intuition is misleading, i.e., for which larger variances occur in combination with lower costs. To characterize these demand distributions we use stochastic dominance relations.