632
Views
11
CrossRef citations to date
0
Altmetric
Articles

Quality information acquisition and ordering decisions with risk aversion

, , &
Pages 6864-6880 | Received 21 Jan 2020, Accepted 14 Sep 2020, Published online: 14 Oct 2020

References

  • Altendorfer, K., Alexander Hübl, and H. Jodlbauer. 2014. “Periodical Capacity Setting Methods for Make-to-Order Multi-Machine Production Systems.” International Journal of Production Research 52 (16): 4768–4784.
  • Arya, A., N. Gong, and R. Ramanan. 2014. “Quality Testing and Product Rationing by Input Suppliers.” Production and Operations Management 23 (11): 1835–1844.
  • Barseghyan, L., F. Molinari, T. O’Donoghue, and J. C. Teitelbaum. 2013. “The Nature of Risk Preferences: Evidence from Insurance Choices.” American Economy Review 103 (6): 2466–2529.
  • Becker-Peth, M., U. W. Thonemann, and T. Gully. 2018. “A Note on the Risk Aversion of Informed Newsvendors.” Journal of the Operational Research Society 69 (7): 1135–1145.
  • Benammar, O., and A. Dolgui. 2018. “Optimal Order Release Dates for Two-Level Assembly Systems with Stochastic Lead Times at Each Level.” International Journal of Production Research 56 (12): 4226–4242.
  • Bertsimas, D., and A. Thiele. 2006. “A Robust Optimization Approach to Inventory Theory.” Operations Research 54: 150–168.
  • Callen, M., M. Isaqzadeh, J. D. Long, and C. Sprenger. 2014. “Violence and Risk Preference: Experimental Evidence from Afghanistan.” The American Economic Review 104 (1): 123–148.
  • Cannella, S., C. Di Mauro, R. Dominguez, A. Ancarani, and F. Schupp. 2019. “An Exploratory Study of Risk Aversion in Supply Chain Dynamics via Human Experiment and Agent-Based Simulation.” International Journal of Production Research 57 (4): 985–999.
  • Cao, H., X. Guan, T. Fan, and L. Zhou. 2019. “The Acquisition of Quality Information in a Supply Chain with Voluntary vs. Mandatory Disclosure.” Production and Operations Management. doi:10.1111/poms.13130.
  • Chade, H., and N. Kovrijnykh. 2016. “Delegated Information Acquisition with Moral Hazard.” Journal of Economic Theory 162: 55–92.
  • Chen, Y., M. Xu, and Z. G. Zhang. 2009. “Technical Note—A Risk-Averse Newsvendor Model Under the CVaR Criterion.” Operations Research 57 (4): 1040–1044.
  • Cheng, T. C. E. 1991. “EPQ with Process Capability and Quality Assurance Considerations.” Journal of Operations Research Society 42 (8): 713–720.
  • Choi, T., D. Li, H. Yan, and C. Chiu. 2008. “Channel Coordination in Supply Chains with Agents Having Mean-Variance Objectives.” Omega 36: 565–576.
  • Chu, W., and P. Messinger. 1998. “Information and Channel Profits.” Journal of Retail 73 (4): 487–499.
  • Fan, T., Y. Song, H. Cao, and H. Xia. 2019. “Optimal eco-Labeling Strategy with Imperfectly Informed Consumers.” Industrial Management and Data Systems 119 (6): 1166–1188.
  • Feng, Q., and R. Shi. 2012. “Sourcing From Multiple Suppliers for Price-Dependent Demands.” Production and Operations Management 21 (3): 547–563.
  • Gavirneni, S., and L. W. Robinson. 2017. “Risk Aversion and Implicit Shortage Cost Explain the Anchoring and Insufficient Adjustment Bias in Human Newsvendors.” Operations Research Letters 45 (3): 191–198.
  • Giri, B. C. 2011. “Managing Inventory with Two Suppliers Under Yield Uncertainty and Risk Aversion.” International Journal of Production Economics 133 (1): 80–85.
  • Gotoh, J., and Y. Takano. 2007. “Newsvendor Solutions via Conditional Value-at-Risk Minimization.” European Journal of Operational Research 179: 80–96.
  • Guan, X., and Y. J. Chen. 2017. “The Interplay between Information Acquisition and Quality Disclosure.” Production and Operations Management 26 (3): 389–408.
  • Guo, L. 2009. “The Benefits of Downstream Information Acquisition.” Marketing Science 28 (3): 457–471.
  • Guo, L., and G. Iyer. 2010. “Information Acquisition and Sharing in a Vertical Relationship.” Marketing Science 29 (3): 483–506.
  • Guo, Y., J. Wood, W. Pan, and Q. Meng. 2018. “Inventory Optimization of Airport Perishable Emergency Supplies with Replacement Strategy Facing Stochastic Occurrence Time by Cvar Approach.” International Journal of Disaster Risk Reduction 31: 170–183.
  • Harbaugh, R., J. W. Maxwell, and B. Roussillon. 2011. “Label Confusion: the Groucho Effect of Uncertain Standards.” Management Science 57 (9): 1512–1527.
  • Huang, S., and P. Lin. 2010. “A Modified ant Colony Optimization Algorithm for Multi-Item Inventory Routing Problems with Demand Uncertainty.” Transportation Research Part E: Logistics and Transportation Review 46 (5): 598–611.
  • Huang, S., W. Xiao, and J. Yang. 2019. “Optimal Contracts Under Endogenous Demand Information Acquisition.” Operations Research Letters 47 (3): 173–177.
  • Jammernegg, W., and P. Kischka. 2009. “Risk Preferences and Robust Inventory Decisions.” International Journal of Production Economics 118: 269–274.
  • Jansen, J. 2008. “Information Acquisition and Strategic Disclosure in Oligopoly.” Journal of Economics & Management Strategy 17 (1): 113–148.
  • Kahneman, D., and A. Tversky. 1979. “Prospect Theory: An Analysis of Decision Under Risk.” Econometrica 47: 263–291.
  • Kaplan, Robert S. 1970. “A Dynamic Inventory Model with Stochastic Lead Times.” Management Science 16 (7): 491–507.
  • Lam, Y., K. H. Li, W. C. Ip, and H. Wong. 2006. “Sequential Variable Sampling Plan for Normal Distribution.” European Journal of Operational Research 172 (1): 127–145.
  • Lee, H., and M. Rosenblatt. 1985. “Optimal Inspection and Ordering Policies for Products with Imperfect Quality.” IIE Transactions 17 (3): 284–289.
  • Li, C., F. Liu, X. Tan, and Y. Du. 2010. “A Methodology for Selecting a Green Technology Portfolio Based on Synergy.” International Journal of Production Research 48 (23-24): 7289–7302.
  • Li, L., R. McKelvey, and T. Page. 1987. “Optimal Research for Cournot Oligopolists.” Journal of Economic Theory 42 (1): 140–166.
  • Li, X., and R. Peeters. 2017. “Rivalry Information Acquisition and Disclosure.” Journal of Economics & Management Strategy 26 (3): 610–623.
  • Liu, S. W., S. W. Lin, and C. W. Wu. 2014. “A Resubmitted Sampling Scheme by Variables Inspection for Controlling Lot Fraction Nonconforming.” International Journal of Production Research 52 (12): 3744–3754.
  • Mardan, E., M. Amalnik, and M. Rabbani. 2015. “An Integrated Emergency Ordering and Production Planning Optimization Model with Demand and Yield Uncertainty.” International Journal of Production Research 53 (20): 6023–6039.
  • Nelson, P. 1970. “Information and Consumer Behavior.” Journal of Political Economy 78 (2): 311–329.
  • Özler, A., B. Tan, and F. Karaesmen. 2009. “Multi-product Newsvendor Problem with Value-at-Risk Considerations.” International Journal of Production Economics 117: 244–255.
  • Philipoom, P., and T. Fry. 1992. “Capacity-based Order Review/Release Strategies to Improve Manufacturing Performance.” International Journal of Production Research 30 (11): 2559–2572.
  • Qiu, R., J. Shang, and X. Huang. 2014. “Robust Inventory Decision Under Distribution Uncertainty: A Cvar-Based Optimization Approach.” International Journal of Production Economics 153: 13–23.
  • Rockafellar, R., and S. Uryasev. 2000. “Optimization of Conditional Value-at-Risk.” Journal of Risk 2: 21–42.
  • Rockafellar, R., and S. Uryasev. 2002. “Conditional Value-at-Risk for General Loss Distributions.” Journal of Banking & Finance 26 (7): 1443–1471.
  • Schmidt, U., and H. Zank. 2008. “Risk Aversion in Cumulative Prospect Theory.” Management Science 54 (1): 208–216.
  • Schweitzer, M., and G. Cachon. 2000. “Decision Bias in the Newsvendor Problem with a Known Demand Distribution: Experimental Evidence.” Management Science 46: 404–420.
  • Shavell, S. 1994. “Acquisition and Disclosure of Information Prior to Sale.” RAND Journal of Economics 25 (1): 20–36.
  • Smith, J. E., and C. Ulu. 2017. “Risk Aversion, Information Acquisition, and Technology Adoption.” Operations Research 65 (4): 1011–1028.
  • Snyder, L. V., Z. Atan, P. Peng, Y. Rong, A. Schmitt, and B. Sinsoysal. 2016. “OR/MS Models for Supply Chain Disruptions: A Review.” Iie Transactions 48 (2): 89–109.
  • Sonntag, D., and C. P. Kiesmuller. 2019. “The Influence of Quality Inspections on the Optimal Safety Stock Level.” Operations Research 59 (1-2): 147–149.
  • Tana, T., and O. Alpb. 2016. “Optimal Sourcing from Alternative Capacitated Suppliers and General Cost Structures.” Omega 58: 26–32.
  • Vives, X. 1988. “Aggregation of Information in Large Cournot Markets.” Econometrica 56 (4): 851–876.
  • Wang, D., S. Dimitrov, and L. Jian. 2020. “Optimal Inventory Decisions for a Risk-Averse Retailer when Offering Layaway.” European Journal of Operational Research 284 (1): 108–120.
  • Wu, M., S. X. Zhu, and R. H. Teunter. 2013. “The Risk-Averse Newsvendor Problem with Random Capacity.” European Journal of Operational Research 231 (2): 328–336.
  • Xu, X., F. T. Chan, and C. K. Chan. 2019. “Optimal Option Purchase Decision of a Loss-Averse Retailer Under Emergent Replenishment.” International Journal of Production Research 57 (14): 4594–4620.
  • Xue, W., T. Choi, and L. Ma. 2016. “Diversification Strategy with Random Yield Suppliers for a Mean–Variance Risk-Sensitive Manufacturer.” Transportation Research Part E: Logistics and Transportation Review 90 (6): 90–107.
  • Yan, A., S. Liu, and X. Dong. 2016. “Variables Two Stage Sampling Plans Based on the Coefficient of Variation.” Journal of Advanced Mechanical Design, Systems, and Manufacturing 10 (1): 1–12.
  • Yang, L., M. Xu, G. Yu, and H. Zhang. 2009. “Supply Chain Coordination with CvAR Criterion.” Asia-Pacific Journal of Operational Research 26: 135–160.
  • Zhang, D., H. Xu, and Y. Wu. 2009. “Single and Multi-Period Optimal Inventory Control Models with Risk-Averse Constraints.” European Journal of Operational Research 199: 420–434.
  • Zou, F., and T. Fan. 2019. “Food Supply Chain Decision Optimization with Quality Information Structure.” International Conference on Industrial Engineering and Systems Management 2019: 1–6.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.