Related papers: Robust Newsvendor Problem in Global Market: Stable…
Renewable energy generation is offered through electricity markets, quite some time in advance. This then leads to a problem of decision-making under uncertainty, which may be seen as a newsvendor problem. Contrarily to the conventional…
This work addresses a key challenge in inventory management by developing a stochastic model that describes the dynamic distribution of inventory stock over time without assuming a specific demand distribution. Our model provides a flexible…
Demand forecasting plays an important role in many inventory control problems. To mitigate the potential harms of model misspecification, various forms of distributionally robust optimization have been applied. Although many of these…
Newsvendor problem is an extensively researched topic in inventory management. In this class of inventory problems, shortage and excess costs are considered to be proportional to the quantity lost. But, for critical goods or commodities,…
The newsvendor model is a well-known stochastic model for inventory management; however, it was originally developed for a single-period context and focuses on trading companies. This paper proposes an extension of the newsvendor model into…
The rapid expansion of digital commerce platforms has amplified the strategic importance of coordinated pricing and inventory management decisions among competing retailers. Motivated by practices on leading e-commerce platforms, we analyze…
We consider a fundamental generalization of the classical newsvendor problem where the seller needs to decide on the inventory of a product jointly for multiple locations on a metric as well as a fulfillment policy to satisfy the uncertain…
This work studies equilibrium problems under uncertainty where firms maximize their profits in a robust way when selling their output. Robust optimization plays an increasingly important role when best guaranteed objective values are to be…
We investigate newsvendor games whose payoff function is uncertain due to ambiguity in demand distributions. We discuss the concept of stability under uncertainty and introduce solution concepts for robust cooperative games which could be…
Problem definition: We consider a newsvendor problem with unknown demand distribution, where we distinguish ambiguity under which the newsvendor does not differentiate demand distributions of common characteristics and misspecification…
In this paper, we investigate a joint decision-making pattern for a two-stage supply chain network, including a supplier, a company, and its customers. We investigate two types of demand patterns, associated with dependent lead time and…
This paper expands the work on distributionally robust newsvendor to incorporate moment constraints. The use of Wasserstein distance as the ambiguity measure is preserved. The infinite dimensional primal problem is formulated; problem of…
In this paper, we consider a static, multi-period newsvendor model under a budget constraint. In the case where the true demand distribution is known, we develop a heuristic algorithm to solve the problem. By comparing this algorithm with…
Since the seminal work of Scarf (1958) [A min-max solution of an inventory problem, Studies in the Mathematical Theory of Inventory and Production, pages 201-209] on the newsvendor problem with ambiguity in the demand distribution, there…
I present a deep reinforcement learning (RL) solution to the mathematical problem known as the Newsvendor model, which seeks to optimize profit given a probabilistic demand distribution. To reflect a more realistic and complex situation,…
The newsvendor problem is one of the most basic and widely applied inventory models. There are numerous extensions of this problem. If the probability distribution of the demand is known, the problem can be solved analytically. However,…
The classic newsvendor model yields an optimal decision for a ``newsvendor'' selecting a quantity of inventory, under the assumption that the demand is drawn from a known distribution. Motivated by applications such as cloud provisioning…
Market makers provide liquidity to other market participants: they propose prices at which they stand ready to buy and sell a wide variety of assets. They face a complex optimization problem with both static and dynamic components. They…
This paper is concerned with the determination of pricing strategies for a firm that in each period of a finite horizon receives replenishment quantities of a single product which it sells in two markets, e.g., a long-distance market and an…
Problem definition: Traditional monopoly pricing assumes sellers have full information about consumer valuations. We consider monopoly pricing under limited information, where a seller only knows the mean, variance and support of the…