Effect of personality on newsvendor decisions

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Akbay, Ümmühan and Kaya, Murat (2022) Effect of personality on newsvendor decisions. In: 7th North American International Conference on Industrial Engineering and Operations Management, Orlando, FL, USA

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Abstract

We present the results of a newsvendor experiment and out-of-experiment personality trait surveys. Our study is based on a simple scenario where the decision maker determines the stock quantity for a perishable product with stochastic consumer demand. We explore the predictive power of self-esteem and regret tendency on ordering behavior in newsvendor setting. We find that subjects with higher self-esteem scores place larger orders and earn more profit under low purchasing cost setting, whereas the difference is not salient under high purchasing cost setting. Moreover, decision-makers with higher regret tendency place orders with smaller variability and closer to the demand mean under high purchasing cost setting.
Item Type: Papers in Conference Proceedings
Uncontrolled Keywords: Behavioral Operations, Inventory Management, Newsvendor, Personality Traits
Divisions: Faculty of Engineering and Natural Sciences > Academic programs > Industrial Engineering
Faculty of Engineering and Natural Sciences
Depositing User: Murat Kaya
Date Deposited: 03 Oct 2023 10:03
Last Modified: 03 Oct 2023 10:03
URI: https://research.sabanciuniv.edu/id/eprint/47999

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