The Risk-Averse (and Prudent) Newsboy
分析单周期库存(报童)问题中风险与风险规避的影响,考察价格和成本参数变化的比较静态效应,并探讨随机背景财富和需求风险增加的影响,发现某些偏好或风险增加的限制可得出确定性结果。
The effects of risk and risk aversion in the single-period inventory (“newsboy”) problem are examined. Comparative-static effects of changes in the various price and cost parameters are determined and related to the newsboy's risk aversion. The addition of a random background wealth and of an increase in the riskiness of newspaper demand are also examined. Although many of the comparative effects generally are ambiguous, some fairly simple restrictions on preferences and/or risk increases are shown to lead to qualitatively deterministic results.