In production planning, managers pursue using efficiency to overcome the loss. However, an essential element to consider duringthe process is risk. This element includes both the uncertainty of outcomes and as well their benefits. Outcomes are related to theprofit and loss statement and the delay in profits defined by the distribution function, which points to potential benefits or loss.Profits, unfortunately, may be high or low sometimes. This study employs cooperative game theory under a risk managementframework to analyze aspects related to production planning. A particular interest relies on the application of Shapley value as asolution concept in financial engineering problems. Through an optimization model, the study evaluates the usefulness of gametheory considering risk measures such as conditional value-at-risk (CVaR).
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