Journal ArticleDOI
An experimental investigation of newsvendor decisions under ambiguity
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TLDR
The literature on decision biases in the newsvendor model assumes classical version of the problem where the distribution of random demand is known, and this context is decision-making under risk.Abstract:
The literature on decision biases in the newsvendor model assumes classical version of the problem where the distribution of random demand is known. This context is decision-making under risk. In m...read more
Citations
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Production And Operations Analysis
TL;DR: The production and operations analysis is universally compatible with any devices to read and is available in the book collection an online access to it is set as public so you can download it instantly.
Journal ArticleDOI
Wholesale price versus buyback: A comparison of contracts in a supply chain with a behavioral retailer
TL;DR: In this article, the structural properties of the wholesale price contract in a supply chain with a behavioral retailer were characterized. And the conditions under which a buyback contract will not coordinate the supply chain were derived.
Journal ArticleDOI
Inventory decision-making biases: a review and suggestions for future research
S. Yamini,M. S. Gajanand +1 more
TL;DR: In this article, a comprehensive overview of the biases in inventory decisions, under the umbrella of behavioral operations, considering research findings that used experimental methods, is provided, with an aim to build a classification framework.
Journal ArticleDOI
Inventory control under different forms of uncertainty: Ambiguity and stochastic variability
Siqi Ma,John A. Aloysius +1 more
TL;DR: In this paper , the authors report the results of two experiments that partial out the effects of ambiguity and stochastic variability by orthogonal manipulation of these two forms of uncertainty in a news vendor task.
References
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Journal ArticleDOI
Patients’ Responsibilities in Medical Ethics
TL;DR: It is argued that certain duties of patients counterbalance an otherwise unfair captivity of doctors as helpers and that vulnerability does not exclude obligation.
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Advances in prospect theory: cumulative representation of uncertainty
Amos Tversky,Daniel Kahneman +1 more
TL;DR: Cumulative prospect theory as discussed by the authors applies to uncertain as well as to risky prospects with any number of outcomes, and it allows different weighting functions for gains and for losses, and two principles, diminishing sensitivity and loss aversion, are invoked to explain the characteristic curvature of the value function and the weighting function.
Journal ArticleDOI
Risk, Ambiguity, and the Savage Axioms
TL;DR: The notion of "degrees of belief" was introduced by Knight as mentioned in this paper, who argued that people tend to behave "as though" they assigned numerical probabilities to events, or degrees of belief to the events impinging on their actions.
Journal ArticleDOI
Recent developments in modeling preferences: Uncertainty and ambiguity
Colin F. Camerer,Martin Weber +1 more
TL;DR: In subjective expected utility (SEU), the decision weights people attach to events are their beliefs about the likelihood of events as discussed by the authors, and it has been shown that people prefer to bet on events they know more about.