Elisa Mastronardi
Behavioral Aspects of Newsvendors: a study of their variability.
Rel. Giulio Zotteri, Marco Cantamessa, Samuele Colombo. Politecnico di Torino, Corso di laurea magistrale in Ingegneria Gestionale (Engineering And Management), 2023
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Abstract
For this dissertation, we propose an analysis of the variability in the answering behavior over time of respondents participating in the Newsvendor Model tasks. When posed in front of the Newsvendor task participants seems to be prone almost to every kind of mistake made (O’Keefe T. Carlson, 1969), with deep oscillation of the quantity purchased during each repetition of the model. In other words, the orders placed by the newsvendors not only differ from the optimum at the aggregate level, as already indagated by many prominent authors, but they also differ from each other in terms of how far they are from it.
These points directly translate into a different level of economic inefficiency or efficiency presented by the same single participant
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