Simple Economics of the Price-Setting Newsvendor Problem
将勒纳关系推广到定价报童问题，解释了加性和乘性不确定性对最优价格的不同影响：乘性不确定性提高最优价格，加性不确定性降低加成因子。
The Lerner relationship linking the profit-maximizing price to marginal cost and the elasticity of demand generalizes to the price-setting newsvendor, and the result resolves the puzzle over the different effects of additive and multiplicative uncertainty on the solution. Multiplicative uncertainty increases the optimal price because it increases the marginal cost of a unit sold and does not affect the markup factor. Additive uncertainty has no effect on the marginal cost of a unit sold and lowers the markup factor because it increases the elasticity of the average quantity sold with respect to price. This paper was accepted by Martin Lariviere, operations management.