A Bilevel Stochastic Dynamic Programming Model to Assess the Value of Information on Actual Food Quality at Wholesale Markets

Table 2

Comparisons on the performance of different strategies.

Strategy	Benchmark	Private-info	Public-info
Estimated quality (constant)	0.8	0.8	—
Average quality level ()	0.8231	0.8248	0.8727
The wholesaler’s daily profit	4176	4385	3526
The retailer’s daily profit	14488	14386	15029
The retailer’s daily ordering quantity	4.3862	4.3914	4.6446
The retailer’s daily disposal	15.54%	16.33%	17.30%
The retailer’s daily shortage	26.52%	25.89%	22.67%
The wholesaler’s daily disposal	—	0.83%	2.28%
The wholesaler’s daily shortage	5.43%	4.37%	3.43%
The wholesaler’s daily waste	2.89%	2.25%	0.00%
The wholesaler’s daily purchasing cost	12814	12999	13770
The wholesaler’s daily inventory cost	88.68	88.69	68.04