Theoretical versus applied models: the newsboy problem

Ward, S.C., Chapman, C.B. and Klein, J.H. (1991) Theoretical versus applied models: the newsboy problem. Omega, 19, 197-206. (doi:10.1016/0305-0483(91)90039-V).


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This paper is concerned with the ways in which theoretical decision models fail to meet the needs of practical decision-making. To illustrate the arguments theoretical approaches to the well-known newsboy problem are briefly examined. An alternative applied approach is described to further illustrate practical shortcomings of theoretical approaches.

Item Type: Article
Digital Object Identifier (DOI): doi:10.1016/0305-0483(91)90039-V
ISSNs: 0305-0483 (print)
Related URLs:
Keywords: newsboy problem, inventory, theory, risk
Subjects: H Social Sciences > HB Economic Theory
Divisions : University Structure - Pre August 2011 > School of Management
ePrint ID: 42671
Accepted Date and Publication Date:
Date Deposited: 22 Jan 2007
Last Modified: 31 Mar 2016 12:15

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