Ordering behavior in a newsstand experiment

被引:14
作者
Andres Castaneda, Jaime [1 ]
Goncalves, Paulo [2 ]
机构
[1] Univ Rosario, Sch Management, CL 12 C 6 25, Bogota 111711, Colombia
[2] Univ Svizzera Italiana, Inst Management, Via G Buffi 13, CH-6904 Lugano, Switzerland
基金
瑞士国家科学基金会;
关键词
Behavioral operations; Newsstand problem; Newsvendor problem; Service level; Willingness to pay; MULTIPRODUCT NEWSBOY PROBLEM; SUPPLY CHAIN CONTRACTS; NEWSVENDOR PROBLEM; CENSORED NEWSVENDOR; INVENTORY DECISIONS; OPTIMAL ACQUISITION; RISK-TAKING; PERFORMANCE; DEMAND; INFORMATION;
D O I
10.1016/j.ijpe.2017.12.014
中图分类号
T [工业技术];
学科分类号
08 ;
摘要
We study ordering behavior in a multi-item newsvendor problem with resource constraints (the newsstand problem). We run a laboratory experiment of a newsstand problem with 95 undergraduate students, using a two product portfolio while manipulating a budget constraint according to Abdel-Malek and Montanari (2005a)'s newsstand problem analysis. We observe level and poor demand chasing behaviors, as documented in news vendor experiments. We also observe that more budget availability favors profit performance for a high profitability item and service level performance for a low profitability item. These results are supported by estimates of how participants assess leftover and shortage costs as well as their willingness to pay for additional resources. The results also highlight the role that service level preferences and the tradeoff between increased resources and profit performance play in ordering decisions. We discuss implications for inventory management and behavioral experiments of ordering problems.
引用
收藏
页码:186 / 196
页数:11
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