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Expected Value of Distribution Information for the Newsvendor Problem

✍ Scribed by Yue, Jinfeng; Chen, Bintong; Wang, Min-Chiang


Book ID
121861142
Publisher
INFORMS
Year
2006
Tongue
English
Weight
285 KB
Volume
54
Category
Article
ISSN
0030-364X

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Expected value of sample information for
✍ Alan Brennan; Samer A. Kharroubi πŸ“‚ Article πŸ“… 2007 πŸ› John Wiley and Sons 🌐 English βš– 254 KB πŸ‘ 3 views

## Abstract Expected value of sample information (EVSI) involves simulating data collection, Bayesian updating, and re‐examining decisions. Bayesian updating in Weibull models typically requires Markov chain Monte Carlo (MCMC). We examine five methods for calculating posterior expected net benefit