-
作者：Lin, Shaochong; Chen, Youhua (Frank); Li, Yanzhi; Shen, Zuo-Jun Max
作者单位：City University of Hong Kong; City University of Hong Kong; University of Hong Kong; University of Hong Kong; University of California System; University of California Berkeley
摘要：We study a risk-averse newsvendor problem where demand distribution is unknown. The focal product is new, and only the historical demand information of related products is available. The newsvendor aims to maximize its expected profit subject to a profit risk constraint. We develop a model with a value-at-risk constraint and propose a data-driven approximation to the theoretical risk-averse newsvendor model. Specifically, we use machine learning methods to weight the similarity between the new...
-
作者：Huang, Xiao
作者单位：Concordia University - Canada
摘要：This study considers a dyadic supply chain in which a large and creditworthy buyer procures a product from a capital-constrained supplier subject to disruption risk. In facilitating the production, the buyer may offer direct financing to the supplier by way of advance payment (AP). Concurrently, the buyer may also set a tailored discount rate (TR) that applies to the AP and an extended payment timeline (PE) for the balance due. We analyze the value and interplay of these elements by comparing ...
-
作者：Li, Meng; Li, Tao
作者单位：University of Houston System; University of Houston; Santa Clara University
摘要：Artificial intelligence (AI) has significantly changed the supply chain process. In this study, we study the effects associated with AI automation of the retailer's order decision in a decentralized supply chain comprising one supplier and one regretful retailer. In the absence of AI automation, the retailer has a regret bias in that it behaves as though considering the deviation between the realized demand and order quantity, when making an ex ante inventory decision. We find that if profit m...
-
作者：Wang, Xunyi; Jiang, Meiling; Han, Wencui; Qiu, Liangfei
作者单位：Baylor University; University of Illinois System; University of Illinois Urbana-Champaign; State University System of Florida; University of Florida
摘要：The digital technology underlying the concept of Industry 4.0 has brought new disruptive changes to the economy. As an innovative service model, the unique characteristics of the space-sharing economy require the understanding of emotional and psychological aspects in managing such a disruptive service model. We empirically examine the impact of unstructured emotional information that service providers offer (i.e., marketer-generated content) on the popularity and sales of services in space-sh...
-
作者：Mak, Ho-Yin; Dai, Tinglong; Tang, Christopher S.
作者单位：Georgetown University; Johns Hopkins University; Johns Hopkins University; University of California System; University of California Los Angeles
摘要：Distributing scarce resources such as COVID-19 vaccines is often a highly time-sensitive and mission-critical operation. Our research was prompted by a significant obstacle that the United States and other nations encountered during the early months of the COVID-19 vaccination campaign: Most COVID-19 vaccines require two doses given 3 or 4 weeks apart. Given the severely limited supply and mounting pressure on many countries to reduce hospitalizations and mortality, how to effectively roll out...
-
作者：Cohen, Maxime C.; Huang, Nina; Li, Meng; Pavlou, Paul A.
作者单位：McGill University; University of Miami; University of Houston System; University of Houston
-
作者：Li, Li; Jiang, Li
作者单位：Sun Yat Sen University; Hong Kong Polytechnic University
摘要：Empirical evidence indicates that consumers subjectively weigh the near future more heavily than the further future. When purchasing investment products, they make payments and exert efforts before receiving payoffs. Due to the time difference between incurring cost and receiving payoff, subjective discounting can cause consumers to exhibit time-inconsistent purchase behavior. We investigate the impact of this consumer behavior on the pricing strategies of two competing firms that sell quality...
-
作者：Chen, Kanglin; Wang, Xin; Niu, Baozhuang; Chen, Ying-Ju
作者单位：Southern University of Science & Technology; Hong Kong University of Science & Technology; South China University of Technology; Hong Kong University of Science & Technology
摘要：The past decade has seen significant pressure to return manufacturing to developed countries. Such movements call for import tariffs to be raised and consumers' valuation of products made from locally sourced components increased. These factors are believed to stimulate firms operating in a single market to source components locally. However, it is not clear that they are equally effective for multinational firms that produce and sell products in multiple markets. To enrich the understanding o...
-
作者：Federgruen, Awi; Liu, Zhe; Lu, Lijian
作者单位：Columbia University; Imperial College London; Hong Kong University of Science & Technology
摘要：We study a finite horizon, single product, periodic review inventory system with two supply sources and a salvage option. These supply sources are typically capacitated and capacity levels often need to be reserved or installed in advance of the operational planning horizon. The supply sources may thus be differentiated by their lead times, capacities, and fixed and variable order costs. Salvage options allow for inventory reductions and incur fixed cost and variable revenues. We first analyze...
-
作者：Feng, Qi; Shanthikumar, J. George
作者单位：Purdue University System; Purdue University
摘要：Uncertainties involved in decision making often impose challenges to our ability of modeling and analyzing the reality. The purpose of this study is to demonstrate how one can go beyond the conventional optimization thinking, via taking a stochastic viewpoint, to push the boundaries of the analysis. We review the basic notions of stochastic orders and stochastic functions, with which the conventional (deterministic) way of modeling can be generalized. Based on the orders among distribution fun...
