Can loss aversion explain sourcing diversification under supply risk?

Autor:	Yucheng Dong, Meng Wu, Dahai Cai
Rok vydání:	2021
Předmět:	Dependency (UML) Applied Mathematics Loss aversion Econometrics Diversification (finance) Economics Decision bias Management Science and Operations Research Industrial and Manufacturing Engineering Software
Zdroj:	Operations Research Letters. 49:914-919
ISSN:	0167-6377
DOI:	10.1016/j.orl.2021.11.001
Popis:	A recent experimental study shows that human decision-makers exhibit sourcing diversification due to supply uncertainty. It has been pointed out that loss aversion is unable to explain this ordering bias. In this paper, we show that loss aversion with reference dependency can explain this decision bias, and the type of reference point matters in sourcing decisions.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::d50b1dbeecf97da8f09fc0f491d6ee10 https://doi.org/10.1016/j.orl.2021.11.001 Zobrazit plný text záznamu Full Text from ScienceDirect