Title :
Newsboy problem with possibilistic information
Author :
Guo, Peijun ; Chen, Youhua Frank
Author_Institution :
Fac. of Econ., Kagawa Univ., Japan
Abstract :
In this paper, the uncertainty of market of new products with short life cycle is characterized by possibility distribution. The possibilistic model for the newsboy problem, a one-shoot decision situation, is proposed. The new model is different significantly from the conventional newsboy model based on probability distribution in which maximizing expected utility is the goal.
Keywords :
fuzzy set theory; inventory management; possibility theory; supply and demand; utility theory; expected utility; fuzzy models; fuzzy numbers; inventory model; market uncertainty; new products; newsboy problem; newsvendor problem; one-shoot decision situation; plausibility in demand; possibilistic information; satisfaction in utility; short life cycle; single-period problem; unforeseen demand; Cost function; Fuzzy set theory; Fuzzy sets; Fuzzy systems; Predictive models; Pricing; Probability distribution; Procurement; Uncertainty; Utility theory;
Conference_Titel :
Fuzzy Systems, 2003. FUZZ '03. The 12th IEEE International Conference on
Print_ISBN :
0-7803-7810-5
DOI :
10.1109/FUZZ.2003.1209389
