A Note on 'The Censored Newsvendor and the Optimal Acquisition of Information'
作者： Suresh Sethi , M. Çakanyıldırım , Alain Bensoussan
DOI:
关键词: Bellman equation 、 Optimal control 、 Mathematical economics 、 Censoring (clinical trials) 、 Lost sales 、 Economic order quantity 、 Dynamic programming 、 Bayesian probability 、 Economics 、 Newsvendor model
摘要: This paper revisits the finite-horizon model of a censored newsvendor by Ding et al. [Ding, X., M. L. Puterman, A. Bisi. 2002. The and optimal acquisition information. Oper. Res. 50 517–527]. An important result claimed there without proper proof is that myopic order quantity always less than or equal to quantity. Lu [Lu, J. S. Song, K. Zhu. 2008. Analysis perishable inventory systems with demand data. 56(4) 1034–1038.] supplied correct result. We analyze same using interesting concept unnormalized probability, which simplifies dynamic programming equation considerably facilitates claim. Moreover, it produces existence an solution for infinite-horizon setting problem.
参考文章(2)
Alain Bensoussan, Metin Cakanyildirim, Suresh Sethi, On the Optimal Control of Partially Observed Inventory Systems Social Science Research Network. ,(2008) , 10.2139/SSRN.1087603
Metin Çakanyıldırım, Alain Bensoussan, Suresh P. Sethi, A Multiperiod Newsvendor Problem with Partially Observed Demand Social Science Research Network. ,(2008)