The value of information in the multi-item newsboy problem

The value of information in the multi-item newsboy problem

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Article ID: iaor20023116
Country: United Kingdom
Volume: 30
Issue: 1
Start Page Number: 45
End Page Number: 50
Publication Date: Feb 2002
Journal: OMEGA
Authors:
Abstract:

The multi-item newsboy problem is used to determine the value of two types of incomplete information, global information and product-mix information. It is shown that this value depends on the number of products, the existence of a budget restriction and the degree of substitutability.

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