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      • Department of Industrial Engineering
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      Stability and monotonicity in newsvendor situations

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      Author
      Özen, U.
      Erkip, N.
      Slikker, M.
      Date
      2012
      Source Title
      European Journal of Operational Research
      Print ISSN
      0377-2217
      Electronic ISSN
      1872-6860
      Volume
      218
      Issue
      2
      Pages
      416 - 425
      Language
      English
      Type
      Article
      Item Usage Stats
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      Abstract
      This study considers a supply chain that consists of n retailers, each of them facing a newsvendor problem, and a supplier. Groups of retailers might increase their expected joint profit by joint ordering and inventory centralization. However, we assume that the retailers impose some level of stock that should be dedicated to them. In this situation, we show that the associated cooperative game has a non-empty core. Afterwards, we concentrate on a dynamic situation, where several model cost parameters and the retailers' dedicated stock levels can change. We investigate how the profit division might be affected by these changes. We focus on four monotonicity properties. We identify several classes of games with retailers, where some of the monotonicity properties hold. Moreover, we show that pairs of cooperative games associated with newsvendor situations do not necessarily satisfy these properties in general, when changes in dedicated stock levels are in concern.
      Keywords
      Game theory
      Newsvendor
      Supply chain management
      Balancedness
      Inventory centralization
      Core
      Permalink
      http://hdl.handle.net/11693/21504
      Published Version (Please cite this version)
      http://dx.doi.org/10.1016/j.ejor.2011.11.021
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      • Department of Industrial Engineering 677
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