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Encyclopedia of Statistical Sciences
Open accessAbstract
A definition and classical formulation of the newsboy inventory model as a profit maximization problem is provided. The structure of the optimal stocking policy is given. Alternative formulations of mean-variance, down-side risk, VaR (value-at-risk), and CVaR (conditional value-at-risk) for general demand distributions and a minimax formulation for the distribution-free newsboy model are also presented. Demand estimation in the presence of fully observable and censored sales is discussed from the frequentist and Bayesian perspectives. Explicit formulas are provided for Bayesian updating of a comprehensive set of demand functions.
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Cited by
Tobler, M. W., Carrillo‐Percastegui, S. E., Leite Pitman, R., Mares, R., & Powell, G. (2008) · Animal Conservation · doi:10.1111/j.1469-1795.2008.00169.x · Cited by 869
Walther, B. A., & Moore, J. L. (2005) · Ecography · doi:10.1111/j.2005.0906-7590.04112.x · Cited by 847
Kaky, E., Nolan, V., Alatawi, A., & Gilbert, F. (2020) · Ecological Informatics · doi:10.1016/j.ecoinf.2020.101150 · Cited by 432
Evaluating sampling completeness in a desert plant–pollinator network
Chacoff, N. P., Vázquez, D. P., Lomáscolo, S. B., Stevani, E. L., Dorado, J., & Padrón, B. (2012) · Journal of Animal Ecology · doi:10.1111/j.1365-2656.2011.01883.x · Cited by 364
A Game of Prediction with Expert Advice
Vovk, V (1998) · Journal of Computer and System Sciences · doi:10.1006/jcss.1997.1556 · Cited by 281
Metadata
- Venue
- Wiley eBooks
- Publisher
- Wiley
- Published
- 2004-07-22
- OpenAlex
- W1539550814
- Cited by
- 724
- References
- 0
- Type
- reference entry
- Language
- en
- Open access
- green
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