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The Newsvendor Model with Consumer Search Costs

✍ Scribed by Nicholas C. Petruzzi; Kwan E. Wee; Maqbool Dada

Book ID
118091588
Publisher
Production and Operations Management Society
Year
2009
Tongue
English
Weight
149 KB
Volume
18
Category
Article
ISSN
1059-1478

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In this article we use a generalized newsvendor model to determine the optimal liquid asset allocation for insurance risks by an insurance firm. The model studied uses a power function for the liquidation costs. In the case of quadratic liquidation costs, we investigate the impact of risk-pooling an