Behavioral ordering, competition and profits : an experimental investigation

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dc.contributor.authorQuiroga, Bernardo F.
dc.contributor.authorMoritz, Brent
dc.contributor.authorOvchinnikov, Anton
dc.date.accessioned2020-04-20T16:19:15Z
dc.date.available2020-04-20T16:19:15Z
dc.date.issued2019
dc.date.updated2020-03-31T21:32:27Z
dc.description.abstractWe investigate the impact of behavioral ordering on profits under competition. Specifically, we use controlled laboratory experiments to evaluate the differences in profits between a behavioral competitor (where a human places orders), and a management science‐driven competitor (where orders are placed according to one of several plausible policies based on existing literature and managerial practice). Unlike the full‐information game‐theoretic models that assume rational decision‐makers, these policies mimic practical situations by using less information and do not assume that their human competitors make fully rational decisions. Most prior literature focuses on non‐competitive settings, where behaviorally biased deviations from optimal order quantities result in small expected profit losses. In contrast, under competition, we find that human decision‐makers receive a substantially lower profit than the equilibrium expected profit, even as their competitors receive substantially higher profit.
dc.identifier.doi10.1111/poms.13032
dc.identifier.issn1937-5956
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/28677
dc.identifier.urihttp://dx.doi.org/10.1111/poms.13032
dc.issue.numeroNo. 9
dc.language.isoen
dc.pagina.final2258
dc.pagina.inicio2242
dc.relation.isformatofProduction and Operations Management Society, vol. 28, no. 9 (2019), pp. 2242-2258.
dc.revistaProduction and Operations Management Societyes_ES
dc.subject.ddc330
dc.subject.deweyEconomíaes_ES
dc.subject.otherEconomía experimentales_ES
dc.subject.otherCooperatividades_ES
dc.subject.otherJuegos de estrategia (Matemáticas)es_ES
dc.titleBehavioral ordering, competition and profits : an experimental investigationes_ES
dc.typeartículo
dc.volumenVol. 28
sipa.codpersvinculados120937
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