Ward, S.C., Chapman, C.B. and Klein, J.H.
Theoretical versus applied models: the newsboy problem
OMEGA - The International Journal of Management Science, 19, . (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.
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