Newsvendor revisited: risk premiums of loss aversion
The classical newsvendor model in economics and decision theory treats losses and gains equally likely. However, decision makers are usually loss-averse as probable losses have more impact on humans than probable gains. This study presents a new variant of the newsvendor problem of loss-averse decis...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis Group
2018-01-01
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| Series: | Production and Manufacturing Research: An Open Access Journal |
| Subjects: | |
| Online Access: | http://dx.doi.org/10.1080/21693277.2018.1496492 |