We develop inventory control strategies for a supplier who is selling a product to a group of human newsvendors. Recent research in newsvendor experiments using human subjects revealed significant behavioral tendencies in the decision making processes of human newsvendors. If the supplier would...

Storage assets are critical for temporal trading of commodities under volatile prices. State-of-the-art methods for managing storage such as the reoptimization heuristic (RH), which are part of commercial software, approximate a Markov decision process (MDP) assuming full information regarding...