Analyzing learning effects in the newsvendor model by probabilistic methods

dc.contributor.author	Andersson, Jonas
dc.contributor.author	Jörnsten, Kurt
dc.contributor.author	Lillestøl, Jostein
dc.contributor.author	Ubøe, Jan
dc.date.accessioned	2019-10-11T10:53:08Z
dc.date.available	2019-10-11T10:53:08Z
dc.date.issued	2019-10-11
dc.identifier.issn	1500-4066
dc.identifier.uri	http://hdl.handle.net/11250/2621571
dc.description.abstract	In this paper, we use probabilistic methods to analyze learning effects in a behavioral experiment on the newsvendor model. We argue why we should believe that suggested orders follow a multinomial logit distribution, and use the single parameter in that model to extract information on learning effects. We revisit the data, analyzed previously by Bolton et al. (2012), and show that our model predicts the pull-to-center effect in these experimental data very well.	nb_NO
dc.language.iso	eng	nb_NO
dc.publisher	FOR	nb_NO
dc.relation.ispartofseries	Discussion paper;13/19
dc.subject	Behavioral OR	nb_NO
dc.subject	experimental economics	nb_NO
dc.subject	bounded rationality	nb_NO
dc.subject	probabilistic methods	nb_NO
dc.subject	pull-to-center effect	nb_NO
dc.title	Analyzing learning effects in the newsvendor model by probabilistic methods	nb_NO
dc.type	Working paper	nb_NO
dc.source.pagenumber	18	nb_NO