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.
CITATION STYLE
Guo, P. (2003). Newsvendor problems based on possibility theory. In Lecture Notes in Artificial Intelligence (Subseries of Lecture Notes in Computer Science) (Vol. 2773 PART 1, pp. 213–219). Springer Verlag. https://doi.org/10.1007/978-3-540-45224-9_31
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