Bayesian demand updating in the lost sales newsvendor problem: a two-moment approximation

DOI10.1016/J.EJOR.2006.08.035zbMATH1128.90003OpenAlexW2015066368MaRDI QIDQ879302FDOQ879302

Authors Emre Berk, Ülkü Gürler, Richard A. Levine

Publication date 11 May 2007

Published in European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL http://hdl.handle.net/11693/11596

zbMATH Keywords

Bayesiancensoringinventorylost salesnewsboy

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05)

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Cites work

• scientific article; zbMATH DE number 1275472 (Why is no real title available?)
• A Bayesian Approach to the Two-period Style-goods Inventory Problem with Single Replenishment and Heterogeneous Poisson Demands
• Applying Bayesian methodology with a uniform prior to the single period inventory model
• Bayes Solution to Dynamic Inventory Models Under Unknown Demand Distribution
• Bayes Solutions of the Statistical Inventory Problem
• Demand estimation in lost sales inventory systems
• Estimating negative binomial demand for retail inventory management with unobservable lost sales
• Foundations of inventory management
• Improved Fashion Buying with Bayesian Updates
• Myopic Policies for Some Inventory Models with Uncertain Demand Distributions
• Optimal Inventory Policy
• Optimizing Inventory Levels in a Two-Echelon Retailer System with Partial Lost Sales
• Some remarks on bayes solutions to the inventory problem
• Stalking information: Bayesian inventory management with unobserved lost sales
• Statistical decision theory and Bayesian analysis. 2nd ed
• The Censored Newsvendor and the Optimal Acquisition of Information
• The determination of optimal base-stock inventory policy when the costs of under- and oversupply are uncertain

Cited in

(13)

• Service quality guarantee design: obedience behavior, demand updating and information asymmetry
• Bayesian updating of demand and backorder distributions in a newsvendor inventory problem
• The value of information for price dependent demand
• Demand estimation in lost sales inventory systems
• The impacts of dual overconfidence behavior and demand updating on the decisions of port service supply chain: a real case study from China
• Assessing profitability of a newsboy-type product with normally distributed demand based on multiple samples
• Estimation of jointly normally distributed demand for cross-selling items in inventory systems with lost sales
• Application of a distributionally robust optimization approach for single-period stochastic inventory problems with different carbon policies
• The distributionally robust optimization model for a remanufacturing system under cap-and-trade policy: a newsvendor approach
• Bayesian and adaptive controls for a newsvendor facing exponential demand
• Demand estimation and ordering under censoring: stock-out timing is (almost) all you need
• Bounds and heuristics for optimal Bayesian inventory control with unobserved lost sales
• Information frictions and housing market dynamics

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