中文摘要：

对条件风险价值（conditional value-at-risk,CVaR）准则下多产品报童模型进行研究。建立了以产品利润的CVaR值之和最大化为目标,具有预算约束的多产品报童模型。根据产品边际预算CVaR值的单调性,采用二分搜索算法对模型进行求解。应用算例分析零售商的预算与风险厌恶程度对最优订购策略的影响,得到结果：随着预算及风险厌恶程度的增加,零售商订购产品的种类增加;零售商的期望收益是风险厌恶程度的减函数。

英文摘要：

The multi-product newsvendor problem based on the conditional value-at-risk（CVaR） is studied quantitatively.Firstly,to gain maximum the sum of CVaR of products＇ revenue,a multi-product newsvendor model with budget constraint was proposed.The marginal budget CVaR was non-decreasing in the order quantity.A binary search algorithm was developed.Finally,the effects of budget and risk aversion were analyzed through numerical example.The research results show that the greater the budget and risk aversion are,the more categories of products are ordered by the retailer;and the expected revenue of retailer is decreasing in the risk aversion.