Balancing desirable but conflicting objectives in the newsvendor problem

In this paper we study the problem of balancing two desirable but conflicting objectives in the newsvendor model. The standard objective in the newsvendor model is the expected profit maximization. Another objective (known as the "satisficing"--or, "aspiration-level"--objective) that has been studied in the literature is the probability of exceeding a prespecified and fixed target profit level. Since it may not always be obvious what the fixed …