@article{oai:ynu.repo.nii.ac.jp:00002723,
 author = {Guo, Peijun and Ma, Xiuyan},
 issue = {2},
 journal = {EUROPEAN JOURNAL OF OPERATIONAL RESEARCH},
 month = {Dec},
 note = {In this paper, newsvendor problems for innovative products are analyzed. Becausethe product is new, no relevant historical data is available for statistical demand analysis. Insteadof using the probability distribution, the possibility distribution is utilized to characterize theuncertainty of the demand. We consider products whose life cycles are expected to be smallerthan the procurement lead times. Determining optimal order quantities of such products is atypical one-shot decision problem for a retailer. Therefore, newsvendor models for innovativeproducts are proposed based on the one-shot decision theory (OSDT). The main contributions ofthis research are as follows: the general solutions of active, passive, apprehensive and daringfocus points and optimal alternatives are proposed and the existence theorem is established inthe one-shot decision theory; a simple and effective approach for identifying the possibilitydistribution is developed; newsvendor models with four types of focus points are built;managerial insights into the behaviors of different types of retailers are gained by the theoreticalanalysis; the proposed models are scenario-based decision models which provide a fundamentalalternative to analyze newsvendor problems for innovative products.},
 pages = {523--536},
 title = {Newsvendor Models for Innovative Products with One-Shot Decision Theory},
 volume = {239},
 year = {2014}
}