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Overconfidence in Newsvendor Orders: An Experimental Study

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Cited by:

  1. Tingliang Huang & Zhe Yin & Ying-Ju Chen, 2017. "Managing Posterior Price Matching: The Role of Customer Boundedly Rational Expectations," Manufacturing & Service Operations Management, INFORMS, vol. 19(3), pages 385-402, July.
  2. Zhisong Chen & Chaonan Tang & Jianhui Peng, 2023. "Nominal effect vs actual effect: overconfidence in a consignment omnichannel," Electronic Commerce Research, Springer, vol. 23(2), pages 843-876, June.
  3. Caliendo, Marco & Cobb-Clark, Deborah A. & Silva-Goncalves, Juliana & Uhlendorff, Arne, 2024. "Locus of control and the preference for agency," European Economic Review, Elsevier, vol. 165(C).
  4. Kirshner, Samuel Nathan & Shao, Lusheng, 2019. "The overconfident and optimistic price-setting newsvendor," European Journal of Operational Research, Elsevier, vol. 277(1), pages 166-173.
  5. Cao, Bing-Bing & Fan, Zhi-Ping & You, Tian-Hui, 2017. "The newsvendor problem with reference dependence, disappointment aversion and elation seeking," Chaos, Solitons & Fractals, Elsevier, vol. 104(C), pages 568-574.
  6. Jordan Tong & Daniel Feiler, 2017. "A Behavioral Model of Forecasting: Naive Statistics on Mental Samples," Management Science, INFORMS, vol. 63(11), pages 3609-3627, November.
  7. S. Di Luozzo & A. Fronzetti Colladon & M. M. Schiraldi, 2024. "Decoding excellence: Mapping the demand for psychological traits of operations and supply chain professionals through text mining," Papers 2403.17546, arXiv.org.
  8. Yingshuai Zhao & Xiaobo Zhao, 2016. "How a competing environment influences newsvendor ordering decisions," International Journal of Production Research, Taylor & Francis Journals, vol. 54(1), pages 204-214, January.
  9. Xu, Xinsheng & Ji, Ping & Sang, Shuming, 2023. "Supply option purchasing decisions via mismatch cost minimization," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 210(C), pages 260-280.
  10. Song, Zhuzhu & Tang, Wansheng & Zhao, Ruiqing & Zhang, Guoqing, 2021. "Inventory strategy of the risk averse supplier and overconfident manufacturer with uncertain demand," International Journal of Production Economics, Elsevier, vol. 234(C).
  11. Meng Li & Nicholas C. Petruzzi & Jun Zhang, 2017. "Overconfident Competing Newsvendors," Management Science, INFORMS, vol. 63(8), pages 2637-2646, August.
  12. Ji, Xiang & Sun, Jiasen & Wang, Zebin, 2017. "Turn bad into good: Using transshipment-before-buyback for disruptions of stochastic demand," International Journal of Production Economics, Elsevier, vol. 185(C), pages 150-161.
  13. Wei, Ying & Xiong, Sijia & Li, Feng, 2019. "Ordering bias with two reference profits: Exogenous benchmark and minimum requirement," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 128(C), pages 229-250.
  14. Wu, Meng & Bai, Tian & Zhu, Stuart X., 2018. "A loss averse competitive newsvendor problem with anchoring," Omega, Elsevier, vol. 81(C), pages 99-111.
  15. Cao, Qian & Li, Jianbiao & Niu, Xiaofei, 2019. "The role of overconfidence in overweighting private information: Does gender matter?," EconStor Preprints 203448, ZBW - Leibniz Information Centre for Economics.
  16. Song-Hee Kim & Jordan Tong & Carol Peden, 2020. "Admission Control Biases in Hospital Unit Capacity Management: How Occupancy Information Hurdles and Decision Noise Impact Utilization," Management Science, INFORMS, vol. 66(11), pages 5151-5170, November.
  17. Kalakbandi, Vinay Kumar, 2018. "Managing the misbehaving retailer under demand uncertainty and imperfect information," European Journal of Operational Research, Elsevier, vol. 269(3), pages 939-954.
  18. Yin, Xile & Li, Jianbiao & Bao, Te, 2019. "Does overconfidence promote cooperation? Theory and experimental evidence," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 79(C), pages 119-133.
  19. Liu, Zhongyi & Li, Mengyu & Lei, Ying & Zhai, Xin, 2022. "A joint strategy based on ordering and insurance for mitigating the effects of supply chain disruption on risk-averse firms," International Journal of Production Economics, Elsevier, vol. 244(C).
  20. Chen, Xin & Xu, Weijun & Wu, Meng, 2024. "Newsvendor overconfidence and advertising," Omega, Elsevier, vol. 126(C).
  21. Yan Zhang & Juan Li & Qinglong Gou, 2017. "An allocation game model with reciprocal behavior and its applications in supply chain pricing decisions," Annals of Operations Research, Springer, vol. 258(2), pages 347-368, November.
  22. Yinghao Zhang & Karen Donohue & Tony Haitao Cui, 2016. "Contract Preferences and Performance for the Loss-Averse Supplier: Buyback vs. Revenue Sharing," Management Science, INFORMS, vol. 62(6), pages 1734-1754, June.
  23. Villa, Sebastián & Castañeda, Jaime Andrés, 2018. "Transshipments in supply chains: A behavioral investigation," European Journal of Operational Research, Elsevier, vol. 269(2), pages 715-729.
  24. Jianghua Zhang & Daniel Zhuoyu Long & Rowan Wang & Chi Xie, 2021. "Impact of Penalty Cost on Customers' Booking Decisions," Production and Operations Management, Production and Operations Management Society, vol. 30(6), pages 1603-1614, June.
  25. Yufei Ren & David Croson & Rachel Croson, 2017. "The overconfident newsvendor," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 68(5), pages 496-506, May.
  26. Christian Köster & Heike Y. Schenk-Mathes, 2016. "Explanatory and predictive power of the adaptive learning model: average and heterogeneous behavior in a newsvendor context," Journal of Business Economics, Springer, vol. 86(4), pages 361-387, May.
  27. Anil Gaba & Dana G. Popescu & Zhi Chen, 2019. "Assessing Uncertainty from Point Forecasts," Management Science, INFORMS, vol. 65(1), pages 90-106, January.
  28. Choi, Tsan-Ming, 2018. "Incorporating social media observations and bounded rationality into fashion quick response supply chains in the big data era," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 114(C), pages 386-397.
  29. Katharina Dowling & Lucas Stich & Martin Spann, 2021. "An experimental analysis of overconfidence in tariff choice," Review of Managerial Science, Springer, vol. 15(8), pages 2275-2297, November.
  30. Tian Bai & Samuel N. Kirshner & Meng Wu, 2021. "Managing Overconfident Newsvendors: A Target‐Setting Approach," Production and Operations Management, Production and Operations Management Society, vol. 30(11), pages 3967-3986, November.
  31. Daniel Feiler & Jordan Tong, 2022. "From Noise to Bias: Overconfidence in New Product Forecasting," Management Science, INFORMS, vol. 68(6), pages 4685-4702, June.
  32. Khosrowabadi, Naghmeh & Hoberg, Kai & Imdahl, Christina, 2022. "Evaluating human behaviour in response to AI recommendations for judgemental forecasting," European Journal of Operational Research, Elsevier, vol. 303(3), pages 1151-1167.
  33. Mingyang Zhang & Xufeng Yang & Taichiu Edwin Cheng & Chen Chang, 2022. "Inventory Management of Perishable Goods with Overconfident Retailers," Mathematics, MDPI, vol. 10(10), pages 1-14, May.
  34. Du, Xianjin & Zhan, Huimin & Zhu, Xiaoxuan & He, Xiuli, 2021. "The upstream innovation with an overconfident manufacturer in a supply chain," Omega, Elsevier, vol. 105(C).
  35. Liu, Jie & Yang, Yang & Yu, Yugang, 2021. "Ordering and interest rate strategies in platform finance with an overconfident and commerce retailer," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 153(C).
  36. Chen, Junlin & Feng, Xiaojing & Kou, Gang & Mu, Mengting, 2023. "Multiproduct newsvendor with cross-selling and narrow-bracketing behavior using data mining methods," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 169(C).
  37. Bhavani Shanker Uppari & Sameer Hasija, 2019. "Modeling Newsvendor Behavior: A Prospect Theory Approach," Manufacturing & Service Operations Management, INFORMS, vol. 21(3), pages 481-500, July.
  38. Bachler, Sebastian & Haeussler, Stefan & Momsen, Katharina & Stefan, Matthias, 2024. "Do people willfully ignore decision support? Evidence from an online experiment," VfS Annual Conference 2024 (Berlin): Upcoming Labor Market Challenges 302404, Verein für Socialpolitik / German Economic Association.
  39. Robert J. Batt & Jordan D. Tong, 2020. "Mean Service Metrics: Biased Quality Judgment and the Customer–Server Quality Gap," Manufacturing & Service Operations Management, INFORMS, vol. 22(5), pages 975-995, September.
  40. Ferretti, Valentina & Montibeller, Gilberto & von Winterfeldt, Detlof, 2023. "Testing the effectiveness of debiasing techniques to reduce overprecision in the elicitation of subjective continuous probability distributions," LSE Research Online Documents on Economics 115333, London School of Economics and Political Science, LSE Library.
  41. Jinpyo Lee, 2019. "Impact of Loss-Aversion on a Financially-Constrained Supply Chain," Sustainability, MDPI, vol. 11(9), pages 1-19, May.
  42. Becker-Peth, Michael & Thonemann, Ulrich W., 2016. "Reference points in revenue sharing contracts—How to design optimal supply chain contracts," European Journal of Operational Research, Elsevier, vol. 249(3), pages 1033-1049.
  43. Yun Shin Lee & Enno Siemsen, 2017. "Task Decomposition and Newsvendor Decision Making," Management Science, INFORMS, vol. 63(10), pages 3226-3245, October.
  44. Samuel N. Kirshner & Zhaolin Li, 2022. "Supply chain contracting with competing regretful retailers," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(6), pages 2196-2211, September.
  45. Jammernegg, Werner & Kischka, Peter & Silbermayr, Lena, 2022. "Heterogeneity, asymmetry and applicability of behavioral newsvendor models," European Journal of Operational Research, Elsevier, vol. 301(2), pages 638-646.
  46. Youkyung Won, 2016. "Dominance Relationship Among the Retailer’s Strategies Under the Semi-Stackelberg Newsvendor Situation with Quantity Discounts," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 33(02), pages 1-20, April.
  47. Weihua Liu & Xinran Shen & Di Wang, 2020. "The impacts of dual overconfidence behavior and demand updating on the decisions of port service supply chain: a real case study from China," Annals of Operations Research, Springer, vol. 291(1), pages 565-604, August.
  48. Jain, Tarun & Hazra, Jishnu & Cheng, T.C.E., 2018. "Sourcing under overconfident buyer and suppliers," International Journal of Production Economics, Elsevier, vol. 206(C), pages 93-109.
  49. Yan, Xiaoyu & Liu, Weihua & Tang, Ou & Hou, Jiahe, 2024. "When will an overconfident entrant in the two-sided market do more good than harm?," International Journal of Production Economics, Elsevier, vol. 267(C).
  50. Kirshner, Samuel N. & Shao, Lusheng, 2018. "Internal and external reference effects in a two-tier supply chain," European Journal of Operational Research, Elsevier, vol. 267(3), pages 944-957.
  51. Shoufeng Ji & Dan Zhao & Xiaoshuai Peng, 2018. "Joint Decisions on Emission Reduction and Inventory Replenishment with Overconfidence and Low-Carbon Preference," Sustainability, MDPI, vol. 10(4), pages 1-21, April.
  52. Hao, Zhongyuan & Li, Juan & Cai, Jinling, 2023. "Allocation of inventory responsibilities in overconfident supply chains," European Journal of Operational Research, Elsevier, vol. 305(1), pages 207-221.
  53. Wang, Lingling & Wu, Yong & Hu, Shengqiang, 2021. "Make-to-order supply chain coordination through option contract with random yields and overconfidence," International Journal of Production Economics, Elsevier, vol. 242(C).
  54. Christian Köster & Heike Schenk-Mathes & Christopher Specht, 2019. "Explanatory power of behavioral models in the newsvendor problem: a simulation study," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 27(2), pages 311-324, June.
  55. Samuel Nathan Kirshner & Anton Ovchinnikov, 2019. "Heterogeneity of Reference Effects in the Competitive Newsvendor Problem," Manufacturing & Service Operations Management, INFORMS, vol. 21(3), pages 571-581, July.
  56. Hofstra, Nienke & Spiliotopoulou, Eirini, 2022. "Behavior in rationing inventory across retail channels," European Journal of Operational Research, Elsevier, vol. 299(1), pages 208-222.
  57. Diego D’Urso & Ferdinando Chiacchio & Evangelia Demerouti, 2021. "Measuring How Decision Support Systems Improve Newsvendors’ Performance: The Subjects’ Version," Sustainability, MDPI, vol. 13(18), pages 1-16, September.
  58. Ferretti, Valentina & Montibeller, Gilberto & von Winterfeldt, Detlof, 2023. "Testing the effectiveness of debiasing techniques to reduce overprecision in the elicitation of subjective continuous probability distributions," European Journal of Operational Research, Elsevier, vol. 304(2), pages 661-675.
  59. Karen Donohue & Özalp Özer, 2020. "Behavioral Operations: Past, Present, and Future," Manufacturing & Service Operations Management, INFORMS, vol. 22(1), pages 191-202, January.
  60. Xinsheng Xu & Zhiqing Meng & Ping Ji & Chuangyin Dang & Hongwei Wang, 2016. "On the newsvendor model with conditional Value-at-Risk of opportunity loss," International Journal of Production Research, Taylor & Francis Journals, vol. 54(8), pages 2449-2458, April.
  61. Philipp Koellinger & Theresa Treffers, 2015. "Joy Leads to Overconfidence, and a Simple Countermeasure," PLOS ONE, Public Library of Science, vol. 10(12), pages 1-22, December.
  62. Jialu Li & Meng Li & Xuan Zhao, 2021. "Transshipment Between Overconfident Newsvendors," Production and Operations Management, Production and Operations Management Society, vol. 30(9), pages 2803-2813, September.
  63. Choi, Tsan-Ming & Zhang, Ting, 2023. "Will being an angel bring more harm than good? Altruistic newsvendors with different risk attitudes," European Journal of Operational Research, Elsevier, vol. 305(3), pages 1153-1165.
  64. Langnickel, Ferdinand & Zeisberger, Stefan, 2016. "Do we measure overconfidence? A closer look at the interval production task," Journal of Economic Behavior & Organization, Elsevier, vol. 128(C), pages 121-133.
  65. Jiang, Li & Hao, Zhongyuan, 2024. "Holding diverse market beliefs by firms: Information flow, profit performances, and channel structure," Omega, Elsevier, vol. 126(C).
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