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Risk aversion and implicit shortage cost explain the Anchoring and Insufficient Adjustment bias in human newsvendors.

Srinagesh GavirneniLawrence W. Robinson
Published in: Oper. Res. Lett. (2017)
Keyphrases
  • risk aversion
  • utility function
  • risk averse
  • risk neutral
  • expected utility
  • storage space
  • exchange rate
  • expected cost