Browsing by Author "Ovchinnikov, A."
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- ItemHow to compete against a behavioral newsvendor(2015) Ovchinnikov, A.; Moritz, Brent; Quiroga, Bernardo F.We investigate newsvendor ordering behavior under competition. We present a laboratory experiment that documents the behavioral ordering regularities in competitive newsvendor environments, and an analytical model extending the standard theory of newsvendor competition by including an optimal best-response policy for competing with a behaviorally biased newsvendor. We test the effectiveness of this policy using an out-of-sample experiment and find that it results in improved market share, service level and profitability