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5 septembre 2021
- ISIDORE Id: 10670/1.e8333f...
- hal: hal-03337506
- doi: 10.1007/978-3-030-85906-0_19
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info:eu-repo/semantics/altIdentifier/doi/10.1007/978-3-030-85906-0_19
http://creativecommons.org/licenses/by/ , info:eu-repo/semantics/OpenAccess
Mots-clés
Newsvendor Finance Bankruptcy Put option contractsSujets proches
Contract law Contracts--Law and legislation Contractual limitations Limitations, Contractual Agreements Insolvency Privileged debts Cessio bonorum Bankruptcy--Law and legislationCiter ce document
Pooya Hedayatinia et al., « Put Option Contracts in Newsvendor Model with Bankruptcy Risk », HAL SHS (Sciences de l’Homme et de la Société), ID : 10.1007/978-3-030-85906-0_19
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Résumé
This paper studies a newsvendor problem in which the retailer can mix two contracts, a wholesale price and a put option contract. We consider that the newsvendor is financially constrained and may need to contract a loan to cover her ordering costs, with a probability that she becomes bankrupted. We show that when a put option contract is available, the retailer’s order quantity increases, while the bankruptcy risk and therefore the loan’s interest rate decrease. We illustrate these results with numerical experiments on a simple example for different demand sizes and variability.
