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- W2265720590 abstract "We separate newsvendor order decisions into point forecasts, uncertainty judgments, and service level decisions in a behavioral laboratory experiment. Structuring order decisions in such a way can lead to performance improvements, and enable us to more closely examine these components. Point forecasts are influenced by the underlying overage and underage cost parameters, and suffer from demand chasing. Uncertainty judgments are subject to overconfidence, and service level decisions suffer from a cognitive dissonance bias where service levels are rarely set below 50 percent. In a set of additional experiments, we show that these biases can be partially mitigated by properly structuring and framing these lower level judgments and decisions." @default.
- W2265720590 created "2016-06-24" @default.
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- W2265720590 date "2013-01-01" @default.
- W2265720590 modified "2023-10-18" @default.
- W2265720590 title "Task Decomposition and Newsvendor Decision Making" @default.
- W2265720590 doi "https://doi.org/10.2139/ssrn.2232073" @default.
- W2265720590 hasPublicationYear "2013" @default.
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