We consider the news vendor problem as a bi-criteria optimization problem with 2 objectives: maximize the expected profit and maximize the probability of exceeding the expected profit. We use compromise programming to find the solution on the efficient frontier that has the shortest distance from the ideal solution.
(Based on the joint work with Kevin Weng of University of Wisconsin, Sch. of Bus.)

Professor Mahmut Parlar, is currently visiting professor at Decision Sciences Dept of NUS Business School, from the Michael G. DeGroote School of Business in McMaster University, where he is professor of management science. Dr. Parlar visited NUS in last February as distinguished professor. He obtained his BSc. and MSc. degrees both from Middle East Technical University (Turkey) and PhD from Univ of Waterloo (1979).
As a leading researcher, Professor Parlar has published extensively, and his works (70+ papers) have appeared in many top journals such as Annals of Operations Research, Automatica, IEEE Transactions on Automatic Control, IIE Transactions, Journal of Optimization Theory and Application, Management Science, Naval Research Logistics, Operations Research, European Journal of Operations Research, and Stochastic Analysis and Applications.
Prof. Parlar is currently on the editorial board of IIE Transactions. His research interests include financial engineering, stochastic production/inventory (supply chain) models, and game theory applications in management science.
Prof Parlar has also written a book on the application of computer algebra to operations research, titled "Interactive Operations Research with Maple", published recently by Birkhauser, Boston. For more information about him, please visit his webpage at http://www.business.mcmaster.ca/msis/profs/parlar/