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Optimal Strategies for Manufacturers with the Reference Effect under Carbon Emissions-Sensitive Random Demand
Joint Authors
Zhang, Baojun
Qu, Shaojian
Li, Panpan
Huang, Ripeng
Source
Discrete Dynamics in Nature and Society
Issue
Vol. 2018, Issue 2018 (31 Dec. 2018), pp.1-15, 15 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2018-10-10
Country of Publication
Egypt
No. of Pages
15
Main Subjects
Abstract EN
In this paper, we study the optimal strategies for a newsvendor system with joint reference effect, carbon emissions-sensitive random demand, and strategic customers’ behavior.
The newsvendor’s decisions are to determine the selling price, production quantity, and carbon emissions under exogenous and endogenous price cases, respectively.
We also explore how the loss aversions affect the newsvendor’s decisions.
It is shown that the newsvendor has a uniquely optimal policy.
The influence of the reference effect makes the final decisions deviate from the optimal solutions of the classical model.
Furthermore, the sensitivity analysis indicates that the loss aversions have a great impact on the newsvendor’s decisions.
Finally, more managerial implications are derived by numerical simulations.
American Psychological Association (APA)
Zhang, Baojun& Qu, Shaojian& Li, Panpan& Huang, Ripeng. 2018. Optimal Strategies for Manufacturers with the Reference Effect under Carbon Emissions-Sensitive Random Demand. Discrete Dynamics in Nature and Society،Vol. 2018, no. 2018, pp.1-15.
https://search.emarefa.net/detail/BIM-1152396
Modern Language Association (MLA)
Zhang, Baojun…[et al.]. Optimal Strategies for Manufacturers with the Reference Effect under Carbon Emissions-Sensitive Random Demand. Discrete Dynamics in Nature and Society No. 2018 (2018), pp.1-15.
https://search.emarefa.net/detail/BIM-1152396
American Medical Association (AMA)
Zhang, Baojun& Qu, Shaojian& Li, Panpan& Huang, Ripeng. Optimal Strategies for Manufacturers with the Reference Effect under Carbon Emissions-Sensitive Random Demand. Discrete Dynamics in Nature and Society. 2018. Vol. 2018, no. 2018, pp.1-15.
https://search.emarefa.net/detail/BIM-1152396
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1152396