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Based on the mental accounting theory, we frame decision problems of retailer under uncertain supply and stock-dependent demand and analyze the effect of some parameters on the retailer's optimal decision. After the analysis of the uncertainty, we propose a method called advanced payment to reduce the risk of the supply uncertainty. Our research shows that under the advanced payment strategy, the...
We extend the expectation-based loss-averse newsvendor model according [1] by assuming that decision maker confronts deterministic demand and uncertain supply at the beginning of a selling season. We show with numerical study that the higher the penalty coefficient, the lower the optimal order quantity. Higher retail price and salvage value lead to optimally order more. However, when the wholesale...
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