Decision making in the newsvendor problem: A cross-national laboratory study

Omega

Volumn 39, Issue 1, 2011, Pages 41-50

  Feng, Tianjun ^a   Keller, L Robin ^b   Zheng, Xiaona ^c  

^a FUDAN UNIVERSITY   (China)

^b UNIVERSITY OF CALIFORNIA   (United States)

^c Peking University   (China)

Author keywords

"Pull to center" effect; Behavioral operations management; Context dependent preferences; Cross national difference; Flat maximum hypothesis; Newsvendor decisions

Indexed keywords

EID: 77953683799     PISSN: 03050483     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.omega.2010.02.003     Document Type: Article

References (40)

1. Yates J.F., Lee J.W. Chinese decision making. Handbook of Chinese psychology 1996, 338-351. Oxford University Press, Hong Kong. M.H. Bond (Ed.).
2. Yates J.F., Zhu Y., Ronis D.L., Wang D.F., Shinotsuka H., Toda W. Probability judgment accuracy: China, Japan and the United States. Organization Behavior and Human Decision Processes 1989, 43:147-171.
3. Yates J.F., Lee J.W., Bush J.G. General knowledge overconfidence: cross-national variations, response style, and "reality". Organization Behavior and Human Decision Processes 1997, 70:87-94.
4. Hsee C.K., Weber E.U. Cross-national differences in risk preferences and lay predictions. Journal of Behavioral Decision Making 1999, 12:165-179.
5. Weber E.U., Hsee C.K. Cross-cultural differences in risk perception, but cross-cultural similarities in attitudes towards perceived risk. Management Science 1998, 44(9):1205-1217.
6. Doshi H. Wal-Mart increases its hold on China, 2008 (February 6). FinancialExpress.com. http://www.financialexpress.com/news/walmart-increases-its-hold-on-china/269445/0.
7. Bendoly E., Donohue K., Schultz K.L. Behavior in operations management: assessing recent findings and revisiting old assumptions. Journal of Operations Management 2006, 24(6):737-752.
8. Gino F, Pisano G. Behavioral operations. Working paper, Harvard Business School, Morgan Hall 412, Soldiers Field Road, Boston, MA, USA, 2006.
9. Loch C.H., Wu Y. Behavioral operations management. Foundations and Trends in Technology, Information and Operations Management 2007, 1(3).
10. Schweitzer M.E., Cachon G. Decision bias in the newsvendor problem with a known demand distribution: experimental evidence. Management Science 2000, 46(3):404-420.
11. Benzion U, Cohen Y, Peled R, Shavit T. Decision-making and the newsvendor problem-an experimental study. Journal of the Operational Research Society 2008;59(9):1281-7.
12. Bolton G.E., Katok E. Learning-by-doing in the newsvendor problem: a laboratory investigation of the role of experience and feedback. Manufacturing and Service Operations Management 2008, 10(3):519-538.
13. Bolton GE, Ockenfels A, Thonemann U. Managers and students as newsvendors: how out-of-task experience matters. Working paper, Smeal College of Business, Penn State University, University Park, PA 16802, USA, 2008.
14. Bostian AJ.A., Holt C.A., Smith A.M. Newsvendor "pull-to-center" effect: adaptive learning in a laboratory experiment. Manufacturing and Service Operations Management 2008, 10(4):590-608.
15. Rudi N, Drake D. Level, adjustment and observation biases in the newsvendor model. Working paper, INSEAD, Europe Campus, Boulevard de Constance, 77305 Fontainebleau, France, 2008.
16. Su X. Bounded rationality in newsvendor models. Manufacturing and Service Operations Management 2008, 10(4):566-589.
17. Croson D, Croson R, Ren Y. How to manage an overconfident newsvendor. Working paper, Cox School of Business, Southern Methodist University, Dallas, TX 75275, USA, 2008.
18. Benzion U, Cohen Y, Shavit T. The newsvendor problem with unknown distribution. Journal of Operational Research Society, in press, doi: 10.1057/jors.2009.56.
19. Hofstede G. Culture's consequences 1984, Sage Publications, Newbury Park, CA.
20. Lgbria M., Zviran M. End-user effectiveness: a cross-cultural examination. Omega: An International Journal of Management Science 1991, 19(5):369-379.
21. Sheu C., Chae B., Yang C. National differences and ERP implementation: issues and challenges. Omega: An International Journal of Management Science 2004, 32(5):361-371.
22. Starr M.K., Garber H.N. Business in Japan and the United States of America: some implications for management science and operations research. Omega: An International Journal of Management Science 1987, 15(5):383-388.
23. Chan W. The Doctrine of the Mean "Zhong Yong Chung Yung", attrib. to Confucius. A Sourcebook in Chinese Philosophy 1963, 95-115. Princeton University Press, Princeton, NJ, USA, (translator).
24. Chen L. Why Confucius has been reverenced as the model teacher of all ages 1976, St. John's University Press, New York.
25. Legge J. The Chinese classics 1960, vol. 1. Hong Kong University Press, Hong Kong.
26. Boardman C.M., Kato H.K. The Confucian roots of business Kyosei. Journal of Business Ethics 2003, 48(4):317-333.
27. Bian W., Keller L.R. Chinese and Americans agree on what is fair, but disagree on what is best in societal decisions affecting health and safety risks. Risk Analysis 1999, 19(3):433-446.
28. Briley D.A., Morris M.W., Simonson I. Reasons as carriers of culture: dynamic versus dispositional models of cultural influence on decision making. Journal of Consumer Research 2000, 27(2):157-178.
29. Cui J., Zhang L. The Doctrine of the Mean in the design spirits. Asian Social Science 2007, 11(3):125-127.
30. Lowe A.C., Corkindale D.R. Differences in "cultural values" and their effects on responses to marketing stimuli. European Journal of Marketing 1998, 32(9/10):843-867.
31. Sui W. Small firm marketing in China: a comparative study. Small Business Economics 2001, 16:279-292.
32. Tang F.Y., Kirkbridge P.S. Developing conflict management skills in Hong Kong: an analysis of some cross-cultural implications. Management Education and Development 1986, 17(Autumn):287-301.
33. Tse D.K., Lee K., Vertinsky I., Wehrung D.A. Does culture matter? A cross-cultural study of executives' choice, decisiveness, and risk adjustment in international marketing. Journal of Marketing 1988, 52:81-95.
34. Brislin R. The wording and translation of research instruments. Field methods in cross-cultural research and methodology series 1986, vol. 8:137-164. Sage Publications, Beverly Hills, CA.
35. Simonson I., Tversky A. Choice in context: tradeoff contrast and extremeness aversion. Journal of Marketing Research 1992, 29(3):281-295.
36. Tversky A., Simonson I. Context-dependent preferences. Management Science 1993, 39(October):1179-1189.
37. Payne J., Bettman J.R., Johnson E. The adaptive decision maker 1993, Cambridge University Press, Cambridge, UK.
38. Simonson I. Choice based on reasons: the case of attraction and compromise effects. Journal of Consumer Research 1989, 16(2):158-174.
39. Kivetz R., Netzer O., Srinivasan V. Alternative models for capturing the compromise effect. Journal of Marketing Research 2004, 41(3):237-257.
40. Gavirneni S., Xia Y. Anchor selection and group dynamics in newsvendor decision making: results from an experimental study. Decision Analysis 2009, 6(2):87-97.