| Title: | Firms can benefit from inaccurate market beliefs | Authors: | Qiu, Q Jiang, L |
Issue Date: | Jan-2021 | Source: | Operations research letters, Jan. 2021, v. 49, no. 1, p. 150-156 | Abstract: | A supplier sells to a retailer who serves a market with uncertain demand. Before the season starts, the retailer preorders from the supplier, who stocks to satisfy at least the preorder. After the actual demand is realized, the retailer can place an at-once order, which is satisfied up to stock availability. Market demand, as perceived by a firm, can differ from what it actually is. We find that a firm can benefit from holding an inaccurate market belief. | Keywords: | Contracting arrangement Market belief Newsvendor |
Publisher: | Elsevier | Journal: | Operations research letters | ISSN: | 0167-6377 | EISSN: | 1872-7468 | DOI: | 10.1016/j.orl.2020.12.006 |
| Appears in Collections: | Journal/Magazine Article |
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