Managers and Students as Newsvendors

Managers and Students as Newsvendors

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Article ID: iaor20136
Volume: 58
Issue: 12
Start Page Number: 2225
End Page Number: 2233
Publication Date: Dec 2012
Journal: Management Science
Authors: , ,
Keywords: hierarchical structure, newsboy problem, procurement
Abstract:

We compare how experienced procurement managers and students solve the newsvendor problem. We find that managers broadly exhibit the same kind of pull‐to‐center bias as students do. Also, managers use information and task training no better than students. The performance of managers is positively affected by the level of their education and their level in the organizational hierarchy. We discuss implications for theory and for how ordering might be improved in practice.

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