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Newsvendor's response to demand history

Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics) (2014) 8528 LNCS 449-457
DOI: 10.1007/978-3-319-07308-8_43
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Abstract

Mean anchor and chasing demand are two heuristics widely used in literature to explain newsvendor's decision bias. The mean anchor heuristic is an aggregate representation, and static to some extent. In a dynamic setting we significantly control demand chasing behavior and conduct a laboratory experiment. We find that besides the two aforementioned heuristics subject's response to demand history is heterogenous and cannot be neglected. © 2014 Springer International Publishing.

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Geng, W., & Ding, X. (2014). Newsvendor’s response to demand history. In Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics) (Vol. 8528 LNCS, pp. 449–457). Springer Verlag. https://doi.org/10.1007/978-3-319-07308-8_43

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