The Data-Driven Newsvendor Problem: New Bounds and Insights
نویسندگان
چکیده
منابع مشابه
A Data-Driven Approach To Newsvendor Problems
We propose an approach to the classical newsvendor problem and its extensions subject to uncertain demand that: (a) works directly with data, i.e., combines historical data and optimization in a single framework, (b) yields robust solutions and incorporates risk preferences using one scalar parameter, rather than utility functions, (c) allows for tractable formulations, specifically, linear pro...
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We present a version of the newsvendor problem where one has n observations of p features as well as past demand. We consider both " big data " (p/n = O(1)) as well as small data (p/n = o(1)). For small data, we provide a linear programming machine learning algorithm that yields an asymptotically optimal order quantity. We also derive a generalization bound based on algorithmic stability, which...
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ژورنال
عنوان ژورنال: Operations Research
سال: 2015
ISSN: 0030-364X,1526-5463
DOI: 10.1287/opre.2015.1422