A note on the risk aversion of informed newsvendors
A note on the risk aversion of informed newsvendors
复制标题
DOI：
10.1080/01605682.2017.1390525
复制
发表时间：
2018-01-01
影响因子：
3.6
通讯作者：
Gully, Torsten
中科院分区：
文献类型：
--
作者：
Becker-Peth, Michael;Thonemann, Ulrich W.;Gully, Torsten
报童的订购行为已经在行为运营文献中进行了广泛的分析，并且一个强有力的观察结果是，平均订购量介于预期利润最大化数量和平均需求之间。这种“拉到中心”的效果已被解释为锚定，需求追逐，库存误差最小化，和其他决策的技巧和偏见。风险偏好已经被排除在订单行为的解释之外，我们认为这可能为时过早。风险偏好因人而异，理解风险偏好对排序的影响需要在个人层面上进行分析，而不仅仅是在群体层面上，这是文献中使用的主要方法。在一个受控的实验室实验中，我们测量个人的风险偏好，并分析它们与订单数量的关系。我们发现，个人风险偏好和订单数量之间存在显着的相关性，这表明风险偏好影响订单行为。我们还测试了订单数量对利润分配的影响信息如何影响订购，并发现只有一个边际调节效应。此外，我们的分析表明，没有中介效应的风险偏好的性别，但性别的显着水平的影响：女性主体锚更多的平均需求比男性主体。
The order behaviour of newsvendors has been extensively analysed in the behavioural operations literature and a robust observation has been that average order quantities are between expected-profit-maximising quantities and mean demand. This "pull-to-center" effect has been explained by anchoring, demand-chasing, inventory error minimisation, and other decision heuristics and biases. Risk preferences have been ruled out as an explanation of order behaviour, which we believe might have been premature. Risk preferences vary between people and understanding the effect of risk preferences on ordering requires an analysis at the individual level and not only on the group level, which is the dominant approach used in the literature. In a controlled laboratory experiment, we measure individual risk preferences and analyse how they relate to order quantities. We find a significant correlation between individual risk preferences and order quantities, which indicates that risk preferences affect order behaviour. We also test how information about the effect of order quantities on the profit distribution affects ordering and find only a marginal moderation effect. Furthermore, our analyses show no mediation effect of risk preferences by gender, but a significant level effect of gender: female subjects anchor more on mean demand than male subjects.