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Newsvendor Problems Based on Possibility Theory

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Book cover Knowledge-Based Intelligent Information and Engineering Systems (KES 2003)

Part of the book series: Lecture Notes in Computer Science ((LNAI,volume 2773))

Abstract

In this paper, the uncertainty of market of new products with short life cycle is characterized by possibility distribution. Two possibilistic models for newsvendor problem are proposed, one is based on optimistic criterion and the other is based on pessimistic criterion to reflect the different preference for risk in such one-shot decision problem, which are very different from the conventional newsvendor problem based on probability distribution in which maximizing expected utility is goal.

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Author information

Authors and Affiliations

  1. Faculty of Economics, Kagawa University, Takamatsu, Kagawa, 760-8523, Japan

    Peijun Guo

Authors
  1. Peijun Guo
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Editor information

Editors and Affiliations

  1. Computing Laboratory, Oxford University, Parks Road, OXI 3QD, United Kingdom

    Vasile Palade

  2. Intelligent Systems and Signal Processing Labs, Moulsecoomb, University of Brighton, BN2 4GJ, Brighton, United Kingdom

    Robert J. Howlett

  3. Knowledge-Based Intelligent Engineering Systems Centre, Mawson Lakes, University of South Australia, 5095, Adelaide, SA, Australia

    Lakhmi Jain

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© 2003 Springer-Verlag Berlin Heidelberg

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Guo, P. (2003). Newsvendor Problems Based on Possibility Theory. In: Palade, V., Howlett, R.J., Jain, L. (eds) Knowledge-Based Intelligent Information and Engineering Systems. KES 2003. Lecture Notes in Computer Science(), vol 2773. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-45224-9_31

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  • DOI: https://doi.org/10.1007/978-3-540-45224-9_31

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-40803-1

  • Online ISBN: 978-3-540-45224-9

  • eBook Packages: Springer Book Archive

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