The newsvendor problem: the role of prospect theory and feedback

DOI10.1016/J.EJOR.2020.05.013MaRDI QIDQ2189936zbMATH OpenOpenAlexFDO

Authors Chirag Surti, Anthony Celani, Yuvraj Gajpal

Publication date 17 June 2020

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

Full work available at URL https://doi.org/10.1016/j.ejor.2020.05.013

zbMATH Keywords

behavioural ordecision-makingfeedbacknewsvendorprospect theoryrisk

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05)

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Cites work

• A model of reference-dependent preferences
• Decision bias in the newsvendor problem with a known demand distribution: experimental evidence
• Decision-making and the newsvendor problem: an experimental study
• Optimal Inventory Policy
• Prospect Theory: An Analysis of Decision under Risk
• The expectation-based loss-averse newsvendor

Cited in

(18)

• The newsvendor problem with reference dependence, disappointment aversion and elation seeking
• Risk aversion and implicit shortage cost explain the anchoring and insufficient adjustment bias in human newsvendors
• Revisiting prospect theory and the newsvendor problem
• Optimal policy for multi-item systems with stochastic demands, backlogged shortages and limited storage capacity
• Prospect-theoretic Q-learning
• A note on ``Prospect theory and the newsvendor problem
• Decision bias in the newsvendor problem with a known demand distribution: experimental evidence
• Applicability of prospect theory to newsvendor decision bias
• Regret in the Newsvendor Model with Partial Information
• Decision-making and the newsvendor problem: an experimental study
• Construction of equilibria in strategic Stackelberg games in multi-period supply chain contracts
• The over-ordering problem in trade credit: role of return policies
• Impact of loss aversion on the newsvendor problem: a literature review and insights for future researchers
• Platform financing or bank financing in agricultural supply chains: the impact of platform digital empowerment
• Effective goal framing for managers using inventory management systems
• Newsvendor stockouts and option discriminability
• The impact of retailer regret in two-stage supply chains: various structures and buyer power
• The newsvendor game has a nonempty core

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