Behavioral Insights to the Newsvendor Model: A Brief Survey
Chapter from the book:
Şahin,
A.
(ed.)
2023.
Academic Research and Evaluations in Social Sciences - VI.
Synopsis
Over the last 25 years, with various case studies and experimental studies, it is now well established that human decision-makers diverge from the theory when they are making economic decisions in operations management contexts. Owing to its simplicity and flexibility to be applicable to a wide range of business applications, the newsvendor model is the most popular inventory model used in operations management. Hence over the last 2.5 decades many researchers studied newsvendor behavior. In this chapter we present a brief review of the experimental behavioral operations studies that investigate human decision-making behavior in the newsvendor model.
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Copyright (c) 2023 Ali Şahin; Adil Çamur, Ümmühan Akbay, İbrahim Akdoğan, Tülin Akdoğan, Elif Demirbaş, Beyza Armağan, Murat Ihlamur, Mine Kaya, Cerciş İkiel, Adem Yüksel, Erdi Şafak, İzzettin Beştaş, Derya Gültekin, Pınar Özcanlı Baran, Yasemin Apalı, Sıla Söylemez, Gülbin Abatay, Zerrin Karakuzulu, Yağmur Akarsu, Hikmet Salahaddin Gezici, Ayşe Gamze Öngen, Candan Kuş Şahin, Elif Uva İnal, Özlem Atıcı, Kenan Gözlü