The expectation-based loss-averse newsvendor

DOI10.1016/j.econlet.2013.05.035zbMath1284.90002OpenAlexW1947422435MaRDI QIDQ2446260

Fabian Herweg

Publication date: 16 April 2014

Published in: Economics Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.econlet.2013.05.035

zbMATH Keywords

loss aversionnewsvendorbehavioral operations managementinventory decision

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05)

Related Items (19)

Loss aversion and the uniform pricing puzzle for media and entertainment products ⋮ On maximizing a loss-averse buyer's expected utility in a multi-sourcing problem ⋮ Optimizing a production-inventory system under a cost target ⋮ A socially responsible decision‐making model for firms contracting with constrained farmers ⋮ Enabling socially responsible operations: a decision-making model for a firm contracting with decision-biased smallholders ⋮ The newsvendor problem: the role of prospect theory and feedback ⋮ Measuring Market Performance with Stochastic Demand: Price of Anarchy and Price of Uncertainty ⋮ The newsvendor problem with reference dependence, disappointment aversion and elation seeking ⋮ Stocking and pricing decisions under endogenous demand and reference point effects ⋮ Impact of loss aversion on the newsvendor problem: a literature review and insights for future researchers ⋮ Financing the retailer capital‐constrained supply chain with consideration of product quality and demand uncertainty ⋮ Coping with loss aversion in the newsvendor model ⋮ Optimal strategies for manufacturers with the reference effect under carbon emissions-sensitive random demand ⋮ Joint inventory, pricing, and advertising decisions with surplus and stockout loss aversions ⋮ On lot-sizing problem in a random yield production system under loss aversion ⋮ Loss aversion and rationality in the newsvendor problem under recourse option ⋮ Expectation-based loss aversion and strategic interaction ⋮ The loss-averse newsvendor problem with quantity-oriented reference point under CVaR criterion ⋮ On demand uncertainty in the newsvendor model

Cites Work

• Would a risk-averse newsvendor order less at a higher selling price?
• Decision Bias in the Newsvendor Problem with a Known Demand Distribution: Experimental Evidence
• A Model of Reference-Dependent Preferences*
• The Risk-Averse (and Prudent) Newsboy
• Reducing the Cost of Demand Uncertainty Through Accurate Response to Early Sales
• Optimal Inventory Policy

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