The Budget Constrained Multi-Product Newsboy Problem with Reactive Production: A Problem from Entrepreneurial Network Construction
Year: 2012
Author: Wenjin Li, Yanni Pang
Communications in Mathematical Research , Vol. 28 (2012), Iss. 2 : pp. 97–107
Abstract
This paper develops an extended newsboy model and presents a formulation for this model. This new model has solved the budget contained multi-product newsboy problem with the reactive production. This model can be used to describe the status of entrepreneurial network construction. We use the Lagrange multiplier procedure to deal with our problem, but it is too complicated to get the exact solution. So we introduce the homotopy method to deal with it. We give the flow chart to describe how to get the solution via the homotopy method. We also illustrate our model in both the classical procedure and the homotopy method. Comparing the two methods, we can see that the homotopy method is more exact and efficient.
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Journal Article Details
Publisher Name: Global Science Press
Language: English
DOI: https://doi.org/2012-CMR-19052
Communications in Mathematical Research , Vol. 28 (2012), Iss. 2 : pp. 97–107
Published online: 2012-01
AMS Subject Headings: Global Science Press
Copyright: COPYRIGHT: © Global Science Press
Pages: 11
Keywords: newsboy problem entrepreneurial network construction multi-product budget constrained reactive production homotopy method.