Analyzing the newsvendor context in laboratory experiments gives new insights into the behavioral aspects of decision makers. However, a valid question is whether the results of experimental studies can be transferred to real world decisions. We test this by analyzing the decisions of real decision makers. We derive normative benchmarks for the profit maximizing behavior and compare these to actual data. Our findings indicate that real decision makers show similar decision biases as students in laboratory environments.
About the Presenter:
Dr. Michael Becker-Peth is Assistant Professor (Habilitand) at the Department of Supply Chain Management & Management Science at the University of Cologne. He holds a doctoral degree from University of Cologne. His research focuses on the Behavioral Operations and he has published in Management Science.
more info about Dr. Michael Becker-Peth
About the Seminar
The KLU research seminar series is a regular meeting of PhD students, Post-Docs and professors who conduct research in the field of logistics and supply chain management. The research seminar is open to the public and we happily welcome guests.