The newsboy and the flower-girl

The newsboy and the flower-girl

0.00 Avg rating0 Votes
Article ID: iaor1991438
Country: United Kingdom
Volume: 18
Start Page Number: 395
End Page Number: 398
Publication Date: Oct 1990
Journal: OMEGA
Authors:
Keywords: information
Abstract:

A new problem, the flower-girl problem, is derived from the newsboy problem by allowing stocking of unsold goods for one day. It is shown that this significantly lowers the expected value of information. Subsequently, a new concept is introduced, the value of accounting information, which is determined by the amount that is lost when the stock is not correctly counted at the end of each day.

Reviews

Required fields are marked *. Your email address will not be published.