Sun, Qi; Dong, Yucheng; Xu, Weidong - In: International Journal of Production Economics 146 (2013) 1, pp. 167-177
In this paper, we propose a stochastic programming model for the well-known single-period newsvendor problem by adopting the conditional Value-at-Risk (CVaR) as the risk metric in the objective function. The demand uncertainty is modeled in terms of discrete scenarios that reflect the empirical...