Myopic Loss Aversion on the Wholesale Contract: The Comparison of Students and Professionals in Simulated Retailer\'s Order
| Autor: | LI CHENLIU, 劉麗珍 |
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| Rok vydání: | 2019 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 107 This research extends previous studies to examine the impact of myopic loss aversion under the scenario of newsvendor decision. As professionals are generally expected to be more rationale than students, this research highlights the variance of ordering decision between professionals and students. To examine the impact of feedback on myopic loss aversion, we conducted a laboratory experiment programmed in zTree (Fischbacher, 2007) in which 6,650 ordering decisions were generated from 91 students and 42 professionals. The test outcome shows that professionals order lower than students, that implies that professionals have a greater magnitude of myopic loss aversion than students when facing newsvendor issue. The result displays that ordering decision with feedback has a lower order quantity than those without feedback, that interprets subjects ordering with gain-loss feedbacks are significantly affected by myopic loss aversion. The experiment also suggests a significant learning effect in observation of the retailer’s ordering decision. This research is noteworthy to both academia and the private sector as it contributes to the decision behavior from the different angles in the supply chain to the expanse that professionals do not necessarily make their decision optimally. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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