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.