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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, pp. 197-206. (doi:10.1016/0305-0483(91)90039-V).

Record type: Article


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.

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Published date: 1991
Keywords: newsboy problem, inventory, theory, risk
Organisations: Management


Local EPrints ID: 42671
ISSN: 0305-0483
PURE UUID: 9bdde132-a345-4668-b667-5d68a7c3be98

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Date deposited: 22 Jan 2007
Last modified: 17 Jul 2017 15:21

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Author: S.C. Ward
Author: C.B. Chapman
Author: J.H. Klein

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