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A new experimental model for profit maximization

Author

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  • Mohammad Reza Nikbakht

    (Faculty of Management, University of Tehran.)

  • Mehrdad Sadr Ara

    (Faculty of Management, University of Tehran.)

Abstract

The main purpose of this study is to present a comprehensive model in experimental researches, to estimate bias and subjective judgment emphasizing the prominent role of Newsvendor model in inventory and control management that can be generalized for other financial and management areas to modify classic models. In the new approach the real information is the base of measurement and according to it, the new approach considering subjective bias, is complied, then will be comparable to other types of models. The paper also explains the process of work thoroughly.

Suggested Citation

  • Mohammad Reza Nikbakht & Mehrdad Sadr Ara, 2016. "A new experimental model for profit maximization," Journal of Economic and Financial Studies (JEFS), LAR Center Press, vol. 4(3), pages 45-52, June.
    • Handle: RePEc:lrc:lareco:v:4:y:2016:i:3:p:45-52
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    References listed on IDEAS

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