Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/182879 
Year of Publication: 
2011
Series/Report no.: 
Forschungsergebnisse der Wirtschaftsuniversität Wien No. 49
Publisher: 
Peter Lang International Academic Publishers, Berlin
Abstract: 
Inventory management and pricing decisions based on quantitative models both in industrial practice and academic works often rely on minimizing expected cost, which refers to the concept of risk-neutrality of the decision maker. Although many useful insights in operational problems can be obtained by such an approach, it is well understood that incorporating attitudes toward risk is an important lever for building new theories in other fields such as economics and finance. In this work spectral risk measures are applied to the price-setting newsvendor problem and optimal policies are derived. This allows to unify results obtained so far in the literature under the common concept of spectral risk measures for the case of zero and non-zero shortage penalty cost.
Persistent Identifier of the first edition: 
ISBN: 
978-3-631-75398-9
Creative Commons License: 
cc-by Logo
Document Type: 
Book
Document Version: 
Digitized Version

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