Please use this identifier to cite or link to this item: https://doi.org/10.1080/0740817X.2010.532851
Title: Risk analysis of commitment-option contracts with forecast updates
Authors: Buzacott, J.
Yan, H.
Zhang, H. 
Keywords: commitment-option contract
forecast updates
Mean-variance
stochastic order
Issue Date: 2011
Citation: Buzacott, J., Yan, H., Zhang, H. (2011). Risk analysis of commitment-option contracts with forecast updates. IIE Transactions (Institute of Industrial Engineers) 43 (6) : 415-431. ScholarBank@NUS Repository. https://doi.org/10.1080/0740817X.2010.532851
Abstract: The standard treatment of supply chain models largely focuses on the optimization of the expected value of a given cost or profit measure. Due to highly uncertain supply and demand conditions, the use of the expected objective measure may not be justified. This article studies a class of commitment-option supply contracts in a mean-variance framework. With structure properties established it is shown that a mean-variance trade-off analysis with advanced reservation can be carried out. Moreover, it is indicated how the corresponding contract decisions differ from decisions for optimizing an expected objective value. © 2011 "IIE".
Source Title: IIE Transactions (Institute of Industrial Engineers)
URI: http://scholarbank.nus.edu.sg/handle/10635/44062
ISSN: 0740817X
DOI: 10.1080/0740817X.2010.532851
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