Francesca Tornabene
How biases influence decision makers: a focus on the behavioural variability in the Newsvendor Problem.
Rel. Marco Cantamessa, Samuele Colombo, Giulio Zotteri. Politecnico di Torino, Master of science program in Engineering And Management, 2023
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Abstract
During the 20th century, in a framework of growing opposition between Neoclassical and Behavioural Economics, it has been scientifically demonstrated that individuals cannot be considered perfectly rational and therefore capable of maximizing their utility when making choices, as commonly argued until then. Rather, since the 1950s, various studies, in the context of Behavioural Economics, started showing that humans have inherent cognitive limitations that lead them to make systematically sub-optimal choices. Since then, research has gradually uncovered multiple factors that influence decision makers in their choices because of these limitations, but the field continues still to be in the process of being explored and needs for additional contributions.
Indeed, some aspects of the topic seem to be currently uncovered
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