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This paper extends the standard newsvendor problem to a channel coordination problem in the supply chain with an innovative product. Acting as a Stackelberg leader, the manufacturer sells to a retailer facing a newsvendor problem. The partly known demand information is represented by a possibility distribution. Since the life cycle of the innovative product is short, how to determine the optimal order...
In this paper, a multi-period consumption-investment problem with partially known information is considered. In each period, an investor has one and only one chance to allocate the consumption and investment, and choose a suitable investment strategy at the same time. The project is to maximize the sum of possible discounted consumption over the whole process (lifetime). The optimal strategy in each...
One of the main methods for eliciting the values of the membership function ε(x) is to use the Likert scales, i.e., to ask the user to mark his or her degree of certainty by an appropriate mark k on a scale from 0 to n and take ε(x) = k=n. In this paper, we show how to describe this process in terms of the traditional decision making. Our conclusion is that the resulting membership degrees incorporate...
The model of decision-theoretic shadowed sets provides a cost-sensitive approach to three-valued approximation of a fuzzy set on a finite universe. We introduce a semantic meaningful objective function for modeling shadowed sets using the decision theory. This paper is an extension and generalization of the decision-theoretic shadowed sets. We improve the cost-sensitive approach by generalizing the...
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