Multi-product newsboy problem with satiation objective
Meeting the profit target is often preferred over maximizing expected profit in uncertain business environments. Research into the newsboy problem with satiation objective started quite early. However, the progress has been slow, particularly in the multi-product setting. We study the genral multi-product newsboy problem with satiation objective. A discrete formulation is adopted. Computational methods for evaluating and maximizing the satiation probability (i.e., probability of meeting the profit target) ae developed. Difficulties associated with the conventional continuous formulation are also discussed.
Authors: | Khanra, Avijit |
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Institutions: | Economics, Indian Institute of Management |
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