The expectation-based loss-averse newsvendor

被引：70

作者：

Herweg, Fabian ^{[1
]}

机构：

[1] Univ Munich, Dept Econ, D-80539 Munich, Germany

来源：

ECONOMICS LETTERS | 2013年 / 120卷 / 03期

关键词：

Behavioral operations management; Inventory decision; Loss aversion; Newsvendor; REFERENCE-DEPENDENT PREFERENCES; RISK-AVERSE;

D O I：

10.1016/j.econlet.2013.05.035

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We modify the classic single-period inventory management problem by assuming that the newsvendor is expectation-based loss averse according to Koszegi and Rabin (2006, 2007). We show that the expectation-based loss-averse newsvendor orders less than the profit-maximizing quantity. Moreover, the order placed by the expectation-based loss-averse newsvendor features plausible comparative statics of cost and price changes. (C) 2013 Elsevier B.V. All rights reserved.

引用

页码：429 / 432

页数：4

共 13 条

[11] Decision bias in the newsvendor problem with a known demand distribution: Experimental evidence
Schweitzer, ME
Cachon, GP
[J]. MANAGEMENT SCIENCE, 2000, 46 (03) : 404 - 420
[12] The loss-averse newsvendor problem
Wang, Charles X.
Webster, Scott
[J]. OMEGA-INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE, 2009, 37 (01): : 93 - 105
[13] Would a risk-averse newsvendor order less at a higher selling price?
Wang, Charles X.
Webster, Scott
Suresh, Nallan C.
[J]. EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, 2009, 196 (02) : 544 - 553

← 1 2 →