# American Institute of Mathematical Sciences

• Previous Article
Parametric solutions to the regulator-conjugate matrix equations
• JIMO Home
• This Issue
• Next Article
A class of descent four–term extension of the Dai–Liao conjugate gradient method based on the scaled memoryless BFGS update
April  2017, 13(2): 633-647. doi: 10.3934/jimo.2016037

## Distribution-free solutions to the extended multi-period newsboy problem

 1 School of Management, Guangdong University of Technology, Guangzhou 510520, China 2 School of Business Administration, Guangdong University of Finance & Economics, Guangzhou 510320, China

* Corresponding author: Xingyu Yang

Received  March 2015 Revised  December 2015 Published  May 2016

This paper concerns the distribution-free, multi-period newsboy problem in which the newsboy has to decide the order quantity of the newspaper in the subsequent period without knowing the distribution of the demand. The Weak Aggregating Algorithm (WAA) developed in learning and prediction with expert advices makes decision only based on historical information and provides theoretical guarantee for the decision-making method. Based on the advantage of WAA and stationary expert advices, this paper continues providing distribution-free methods for the extended multi-period newsboy problems in which the shortage cost and the integral order quantities are considered. In particular, we provide an alternative proof for the theoretical result which guarantees the cumulative gain our proposed method achieves is as large as that of the best stationary expert advice. Numerical examples are provided to illustrate the effectiveness of our proposed methods.

Citation: Yong Zhang, Xingyu Yang, Baixun Li. Distribution-free solutions to the extended multi-period newsboy problem. Journal of Industrial & Management Optimization, 2017, 13 (2) : 633-647. doi: 10.3934/jimo.2016037
##### References:

show all references

##### References:
The gain function for Levina et al.'s multi-period newsboy problem with salvage. The slope of the graph is $p-c$ to the left of $y=d$ and $s-c$ to the right of $y=d$
Comparison of daily cumulative gain without shortage cost
Comparison of daily cumulative gain with shortage cost
Comparison between daily cumulative gain of DAS and ANS for trial 1
Comparison between daily cumulative gain of DAS and ANS for trial 2
Cumulative gains of DAS and experts without/with shortage cost
 $N$ 100 200 300 400 DAS 3864/3721 6843/6211 9978/8928 12672/11339 $\theta=1$ 1520/-1966 3040/-3218 4560/-4568 6080/-5582 $\theta=2$ 2635/325 5093/1089 7678/1952 10187/3033 $\theta=3$ 3497/2223 6489/4375 9531/6507 12396/8700 $\theta=4$ 3955/3493 6923/6167 10068/9018 12733/11459 $\theta=5$ 3780/3780 6269/6269 8936/8936 10995/10995 Ratios 0.977/0.984 0.988/0.986 0.991/0.990 0.995/0.989
 $N$ 100 200 300 400 DAS 3864/3721 6843/6211 9978/8928 12672/11339 $\theta=1$ 1520/-1966 3040/-3218 4560/-4568 6080/-5582 $\theta=2$ 2635/325 5093/1089 7678/1952 10187/3033 $\theta=3$ 3497/2223 6489/4375 9531/6507 12396/8700 $\theta=4$ 3955/3493 6923/6167 10068/9018 12733/11459 $\theta=5$ 3780/3780 6269/6269 8936/8936 10995/10995 Ratios 0.977/0.984 0.988/0.986 0.991/0.990 0.995/0.989
AVEs and STDs of Ratios of cumulative gains of DAS and best expert without/with shortage cost
 TN 10 20 30 40 AVE 0.9861/0.9917 0.9821/0.9904 0.9802/0.9905 0.9800/0.9910 STD 0.0152/0.0041 0.0135/0.0035 0.0147/0.0037 0.0148/0.0034
 TN 10 20 30 40 AVE 0.9861/0.9917 0.9821/0.9904 0.9802/0.9905 0.9800/0.9910 STD 0.0152/0.0041 0.0135/0.0035 0.0147/0.0037 0.0148/0.0034
Comparison between cumulative gains of DAS and ANS without shortage cost
 trial 1 2 3 4 5 6 7 8 9 10 DAS 235 110 164 185 153 227 158 188 196 150 ANS 241 106 159 180 151 211 153 183 192 147
 trial 1 2 3 4 5 6 7 8 9 10 DAS 235 110 164 185 153 227 158 188 196 150 ANS 241 106 159 180 151 211 153 183 192 147
 [1] I-Lin Wang, Shiou-Jie Lin. A network simplex algorithm for solving the minimum distribution cost problem. Journal of Industrial & Management Optimization, 2009, 5 (4) : 929-950. doi: 10.3934/jimo.2009.5.929 [2] Zhiping Chen, Jia Liu, Gang Li. Time consistent policy of multi-period mean-variance problem in stochastic markets. Journal of Industrial & Management Optimization, 2016, 12 (1) : 229-249. doi: 10.3934/jimo.2016.12.229 [3] Christina Burt, Louis Caccetta, Leon Fouché, Palitha Welgama. An MILP approach to multi-location, multi-period equipment selection for surface mining with case studies. Journal of Industrial & Management Optimization, 2016, 12 (2) : 403-430. doi: 10.3934/jimo.2016.12.403 [4] Lan Yi, Zhongfei Li, Duan Li. Multi-period portfolio selection for asset-liability management with uncertain investment horizon. Journal of Industrial & Management Optimization, 2008, 4 (3) : 535-552. doi: 10.3934/jimo.2008.4.535 [5] Zhen Wang, Sanyang Liu. Multi-period mean-variance portfolio selection with fixed and proportional transaction costs. Journal of Industrial & Management Optimization, 2013, 9 (3) : 643-656. doi: 10.3934/jimo.2013.9.643 [6] Chuangwei Lin, Li Zeng, Huiling Wu. Multi-period portfolio optimization in a defined contribution pension plan during the decumulation phase. Journal of Industrial & Management Optimization, 2019, 15 (1) : 401-427. doi: 10.3934/jimo.2018059 [7] Ning Zhang. A symmetric Gauss-Seidel based method for a class of multi-period mean-variance portfolio selection problems. Journal of Industrial & Management Optimization, 2017, 13 (5) : 1-18. doi: 10.3934/jimo.2018189 [8] Toyohiko Aiki. On the existence of a weak solution to a free boundary problem for a model of a shape memory alloy spring. Discrete & Continuous Dynamical Systems - S, 2012, 5 (1) : 1-13. doi: 10.3934/dcdss.2012.5.1 [9] Zhenhua Guo, Zilai Li. Global existence of weak solution to the free boundary problem for compressible Navier-Stokes. Kinetic & Related Models, 2016, 9 (1) : 75-103. doi: 10.3934/krm.2016.9.75 [10] Xianping Wu, Xun Li, Zhongfei Li. A mean-field formulation for multi-period asset-liability mean-variance portfolio selection with probability constraints. Journal of Industrial & Management Optimization, 2018, 14 (1) : 249-265. doi: 10.3934/jimo.2017045 [11] Huiling Wu, Xiuguo Wang, Yuanyuan Liu, Li Zeng. Multi-period optimal investment choice post-retirement with inter-temporal restrictions in a defined contribution pension plan. Journal of Industrial & Management Optimization, 2017, 13 (5) : 1-34. doi: 10.3934/jimo.2019084 [12] Tong Li, Anthony Suen. Existence of intermediate weak solution to the equations of multi-dimensional chemotaxis systems. Discrete & Continuous Dynamical Systems - A, 2016, 36 (2) : 861-875. doi: 10.3934/dcds.2016.36.861 [13] King-Yeung Lam, Daniel Munther. Invading the ideal free distribution. Discrete & Continuous Dynamical Systems - B, 2014, 19 (10) : 3219-3244. doi: 10.3934/dcdsb.2014.19.3219 [14] Mohsen Lashgari, Ata Allah Taleizadeh, Shib Sankar Sana. An inventory control problem for deteriorating items with back-ordering and financial considerations under two levels of trade credit linked to order quantity. Journal of Industrial & Management Optimization, 2016, 12 (3) : 1091-1119. doi: 10.3934/jimo.2016.12.1091 [15] Julius Fergy T. Rabago, Hideyuki Azegami. A new energy-gap cost functional approach for the exterior Bernoulli free boundary problem. Evolution Equations & Control Theory, 2019, 8 (4) : 785-824. doi: 10.3934/eect.2019038 [16] Chengxia Lei, Yihong Du. Asymptotic profile of the solution to a free boundary problem arising in a shifting climate model. Discrete & Continuous Dynamical Systems - B, 2017, 22 (3) : 895-911. doi: 10.3934/dcdsb.2017045 [17] Xiaofeng Ren. Shell structure as solution to a free boundary problem from block copolymer morphology. Discrete & Continuous Dynamical Systems - A, 2009, 24 (3) : 979-1003. doi: 10.3934/dcds.2009.24.979 [18] Toyohiko Aiki, Adrian Muntean. On uniqueness of a weak solution of one-dimensional concrete carbonation problem. Discrete & Continuous Dynamical Systems - A, 2011, 29 (4) : 1345-1365. doi: 10.3934/dcds.2011.29.1345 [19] Zhong Tan, Jianfeng Zhou. Higher integrability of weak solution of a nonlinear problem arising in the electrorheological fluids. Communications on Pure & Applied Analysis, 2016, 15 (4) : 1335-1350. doi: 10.3934/cpaa.2016.15.1335 [20] Emiliano Cristiani, Elisa Iacomini. An interface-free multi-scale multi-order model for traffic flow. Discrete & Continuous Dynamical Systems - B, 2019, 24 (11) : 6189-6207. doi: 10.3934/dcdsb.2019135

2018 Impact Factor: 1.025