Sayın, F.; Karaesmen, F.; Özekici, S. - In: International Journal of Production Economics 154 (2014) C, pp. 178-189
This paper takes a utility-based approach to the single-period and single-item newsvendor model. Unlike most models in the literature the newsvendor is not necessarily risk-neutral and chooses the order quantity that maximizes the expected utility of the cash flow at the end of the period. We...