Behavioral Experiments in Single-Agent Operational Problems

Jaime Andrés Castañeda ()
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Jaime Andrés Castañeda: Universidad del Rosario

Chapter 6 in Decision-making in Humanitarian Operations, 2019, pp 127-146 from Springer

Abstract: Abstract This chapter begins with an introductory section that explains the need for experimental research in humanitarian operations. It then describes the methodology of behavioral experiments, emphasizing randomization and induced valuation. This is followed by a survey of single-agent behavioral experiments in operations management, focusing on newsvendor and forecasting studies. The chapter provides normative benchmarks for prototypical newsvendor and forecasting problems, shows how individuals’ behaviors deviate from such benchmarks and provides suggestions to extend the surveyed results to humanitarian operations. The chapter concludes with a summary of the work.

Keywords: Behavioral experiments; Newsvendor problem; Level bias; Forecasting; Forecast error (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-91509-8_6

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DOI: 10.1007/978-3-319-91509-8_6

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