Impulse balance in the newsvendor game

DOI10.1016/J.GEB.2014.03.012MaRDI QIDQ2016233zbMATH OpenOpenAlexFDO

Authors Axel Ockenfels, Reinhard Selten

Publication date 19 June 2014

Published in Games and Economic Behavior (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.geb.2014.03.012

zbMATH Keywords

experimentbehavioral operations managementnewsvendor gameeconomic cognitionex-post rationalityimpulse balance equilibrium

Mathematics Subject Classification ID

Production theory, theory of the firm (91B38) Inventory, storage, reservoirs (90B05) Other game-theoretic models (91A40) Experimental studies (91A90)

Recommendations

• Revisiting prospect theory and the newsvendor problem
• Decision bias in the newsvendor problem with a known demand distribution: experimental evidence
• Reference dependence in multilocation newsvendor models: a structural analysis
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Cites work

• scientific article; zbMATH DE number 858900 (Why is no real title available?)
• A Cognitive Hierarchy Model of Games
• Analogy-based expectation equilibrium
• Decision bias in the newsvendor problem with a known demand distribution: experimental evidence
• Decision-making and the newsvendor problem: an experimental study
• Games of competition in a stochastic environment
• Impulse balance equilibrium and feedback in first price auctions
• Learning direction theory and the winner's curse
• Optimal Inventory Policy
• Prospect Theory: An Analysis of Decision under Risk
• Quantal response equilibria for normal form games
• Reference dependence in multilocation newsvendor models: a structural analysis

Cited in

(5)

• Risk aversion and implicit shortage cost explain the anchoring and insufficient adjustment bias in human newsvendors
• Explanatory power of behavioral models in the newsvendor problem: a simulation study
• Efficiency in a forced contribution threshold public good game
• Reference points in revenue sharing contracts -- how to design optimal supply chain contracts
• The newsvendor game has a nonempty core

Describes a project that uses

Uses Software

• Z-Tree

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