期刊
PRODUCTION AND OPERATIONS MANAGEMENT
卷 30, 期 9, 页码 2803-2813出版社
WILEY
DOI: 10.1111/poms.13424
关键词
overconfidence; transshipment; behavioral operations management; managerial bias
资金
- Natural Science and Engineering Research Council of Canada [2018-06690]
This study found that overconfident newsvendors may perform worse with transshipment compared to without transshipment.
This study investigates the impacts of transshipment between overconfident newsvendors who perceive the expected outcome of a random event as more certain than it actually is. The conventional wisdom is that transshipment is a risk-pooling strategy for improving newsvendors' performance. However, we find that overconfident newsvendors can be worse off with transshipment as compared to without transshipment. This result remains when overconfident newsvendors possess other behaviors such as fairness, demand- and supply-side thinking, loss aversion, and demand anchoring. We also utilize data from controlled experiments to demonstrate that overconfidence is a robust behavior with transshipment.
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