@inproceedings{e7b92b138c0748f7a7a2a25b23119e06,
title = "The expectation-based loss-averse newsvendor",
abstract = "Based on the traditional newsvendor model, we modify the classic single-period problem by assuming that the newsvendor is expectation-based loss averse. We highlight the influence of psychological reference point and loss aversion and find that if shortage cost is negligible, then a loss-averse newsvendor may order less than a risk-neutral newsvendor. We also find that if shortage cost is considered, the loss-averse newsvendor's optimal order quantity has something to do with the relation of the marginal overage loss and marginal underage loss, which can never occur in the risk-neutral newsvendor model.",
keywords = "Expectation, Loss-averse, Newsvendor, Order Decision",
author = "Li, \{Shou Rong\} and Zhang, \{Ren Qian\}",
note = "Publisher Copyright: {\textcopyright} 2015 IEEE.; 27th Chinese Control and Decision Conference, CCDC 2015 ; Conference date: 23-05-2015 Through 25-05-2015",
year = "2015",
month = jul,
day = "17",
doi = "10.1109/CCDC.2015.7162744",
language = "英语",
series = "Proceedings of the 2015 27th Chinese Control and Decision Conference, CCDC 2015",
publisher = "Institute of Electrical and Electronics Engineers Inc.",
pages = "4644--4648",
booktitle = "Proceedings of the 2015 27th Chinese Control and Decision Conference, CCDC 2015",
address = "美国",
}