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2018 | 13 | 91-102
Article title

Goal Setting in the Newsvendor Problem with Uniformly Distributed Demand

Authors
Content
Title variants
Languages of publication
EN
Abstracts
EN
In the paper we introduce the newsvendor problem with a satisficing-level objective, which is defined as maximization of the probability of exceeding the moving target. This target is defined as the expected profit, multiplied by a positive constant. The constant is chosen by the management and it indicates whether the low or the high goal should be achieved. We obtain closed form solutions of this newsvendor model with uniformly distributed demand. Additionally, we consider a bicriteria problem with the satisficing- -level and the classical objective.
Year
Volume
13
Pages
91-102
Physical description
Contributors
  • Maria Curie-Skłodowska University. Economic Faculty. Department of Statistics and Econometrics, Lublin, Poland
References
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Document Type
Publication order reference
Identifiers
ISSN
2084-1531
YADDA identifier
bwmeta1.element.cejsh-95c84db8-52cd-440a-a8b7-d168172567f1
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