报告题目 | Mitigating Supply Risk with Limited Information: Emergency Supply and Responsive Pricing | ||
报告人（单位） | Chen Zhi (City University of Hong Kong) | ||
点评人（单位） | 丁溢（东南大学） | 点评人（单位） | |
时间地点 | 时间：2023年3月29日 10:00 地点：腾讯会议742-884-561 (请参加者实名入会) | ||
报告内容摘要 | |||
We investigate the implications and interplay of emergency supply and responsive pricing—two effective strategies to mitigate supply risk—in response to yield randomness with limited distributional information. Specifically, we adopt a distribution-free approach to study an ambiguity-averse monopoly’s joint price and production decisions given the random yield’s mean and variance—arguably two of the most widely used and easy-to-estimate summary statistics. We closed-form solutions of the optimal price and production decisions as well as the optimal profit. Through comparative analysis, we obtain several managerial insights based on the problem’s parameters, including cost parameters, demand parameters, and supply variation. The strategic relation between emergency supply and responsive pricing also critically depends on the unit emergency purchasing cost as well as the type of distributional information about the random yield. We discuss how distributional information about mean and variance bridges the most and least variable situations of the random yield, thus establishing the gain and the limit of knowing variance. 报告人简介：
Zhi Chen is an Assistant Professor in the Department of Management Sciences, College of Business, City University of Hong Kong. His research interests include (1) developing models and designing algorithms for decision-making under uncertainty with different levels of data availability as well as applications in business, economics, finance, and operations; (2) how to compete or cooperate in joint activities such as resource allocation and risk management. His works appear in journals such as Management Science, Operations Research, and Production and Operations Management. | |||
