Risk aversion and implicit shortage cost explain the anchoring and insufficient adjustment bias in human newsvendors

DOI10.1016/J.ORL.2017.01.005zbMath1409.90017OpenAlexW3123779289MaRDI QIDQ1728210

Srinagesh Gavirneni, Lawrence W. Robinson

Publication date: 22 February 2019

Published in: Operations Research Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.orl.2017.01.005

zbMATH Keywords

risk aversionbehavioral operationsshortage costhuman newsvendor

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05)

Related Items (3)

Heterogeneity, asymmetry and applicability of behavioral newsvendor models ⋮ Oligopoly newsvendor competition with reference effects ⋮ Omnichannel operations with ship-from-store

Cites Work

• Impulse balance in the newsvendor game
• Decision Bias in the Newsvendor Problem with a Known Demand Distribution: Experimental Evidence
• Decision-making and the newsvendor problem: an experimental study
• Prospect Theory: An Analysis of Decision under Risk
• The Risk-Averse (and Prudent) Newsboy

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