In the analytic hierarchy process (AHP), Saaty's consistency index is performed to ensure that the preference information, provided in an individual judgement matrix, is neither random nor illogical. Based on the extension of Saaty's consistency index, this paper proposes a consensus index to...

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...