Incorporating risk aversion and time preference into omnichannel retail operations considering assortment and inventory optimization.
Zhimin GuanYuxia MouJun ZhangPublished in: Eur. J. Oper. Res. (2024)
Keyphrases
- risk aversion
- inventory level
- lead time
- expected cost
- supply chain
- total cost
- risk averse
- utility function
- risk neutral
- optimal policy
- optimization problems
- optimization algorithm
- long run
- state dependent
- production system
- infinite horizon
- production cost
- cost function
- artificial intelligence
- expected utility
- exchange rate
- stochastic process
- decision makers