Ockenfels, Axel ORCID: 0000-0003-1456-0191 and Selten, Reinhard (2014). Impulse balance in the newsvendor game. Games Econ. Behav., 86. S. 237 - 248. SAN DIEGO: ACADEMIC PRESS INC ELSEVIER SCIENCE. ISSN 1090-2473
Full text not available from this repository.Abstract
One striking behavioral phenomenon is the pull-to-center bias in the newsvendor game: facing stochastic demand, subjects tend to order quantities between the expected profit maximizing quantity and mean demand. We show that the impulse balance equilibrium, which is based on a simple ex-post rationality principle along with an equilibrium condition, predicts the pull-to-center bias and other, more subtle observations in the laboratory newsvendor game. (C) 2014 Elsevier Inc. All rights reserved.
Item Type: | Journal Article | ||||||||||||
Creators: |
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URN: | urn:nbn:de:hbz:38-434483 | ||||||||||||
DOI: | 10.1016/j.geb.2014.03.012 | ||||||||||||
Journal or Publication Title: | Games Econ. Behav. | ||||||||||||
Volume: | 86 | ||||||||||||
Page Range: | S. 237 - 248 | ||||||||||||
Date: | 2014 | ||||||||||||
Publisher: | ACADEMIC PRESS INC ELSEVIER SCIENCE | ||||||||||||
Place of Publication: | SAN DIEGO | ||||||||||||
ISSN: | 1090-2473 | ||||||||||||
Language: | English | ||||||||||||
Faculty: | Faculty of Management, Economy and Social Sciences | ||||||||||||
Divisions: | Faculty of Management, Economics and Social Sciences > Economics > Macroeconomic, Financial and Economic Policy > Professur für Economics, Design and Behavior Center of Excellence C-SEB |
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Subjects: | no entry | ||||||||||||
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Refereed: | Yes | ||||||||||||
URI: | http://kups.ub.uni-koeln.de/id/eprint/43448 |
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