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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Original Publication URL: http://dx.doi.org/10.1016/0305-0483(91)90039-V
Description/Abstract
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 |
|---|---|
| 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 |
| Item ID: | 42671 |
| Date Deposited: | 22 Jan 2007 |
| Last Modified: | 01 Jun 2011 00:02 |
| Contributors: | Ward, S.C. (Author) Chapman, C.B. (Author) Klein, J.H. (Author) |
| Date: | 1991 |
| Status: | Published |
| URI: | http://eprints.soton.ac.uk/id/eprint/42671 |
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