The overconfident and optimistic price-setting newsvendor

DOI10.1016/j.ejor.2019.02.023zbMath1430.90026OpenAlexW2914100760WikidataQ128366502 ScholiaQ128366502MaRDI QIDQ1735176

Samuel Nathan Kirshner, Lusheng Shao

Publication date: 28 March 2019

Published in: European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.ejor.2019.02.023

zbMATH Keywords

price-setting newsvendoroptimismbehavioral ORoverconfidencereference effects

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05)

Related Items (10)

Evaluating human behaviour in response to AI recommendations for judgemental forecasting ⋮ Testing the effectiveness of debiasing techniques to reduce overprecision in the elicitation of subjective continuous probability distributions ⋮ Oligopoly newsvendor competition with reference effects ⋮ Impacts of barter exchange and decision biases in a two‐level supply chain under pull contract ⋮ Optimal pricing of online products based on customer anchoring‐adjustment psychology ⋮ How retailer overconfidence affects supply chain transparency with manufacturer encroachment ⋮ Unnamed Item ⋮ A risk-averse newsvendor model under stochastic market price ⋮ Allocation of inventory responsibilities in overconfident supply chains ⋮ On demand uncertainty in the newsvendor model

Cites Work

• On the intuition of rank-dependent utility
• Optimization on pricing and overconfidence problem in a duopolistic supply chain
• Stocking and pricing decisions under endogenous demand and reference point effects
• Revisiting prospect theory and the newsvendor problem
• Internal and external reference effects in a two-tier supply chain
• Decision Bias in the Newsvendor Problem with a Known Demand Distribution: Experimental Evidence
• Reference Dependence in Multilocation Newsvendor Models: A Structural Analysis
• Prospect Theory

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