Download or read book Prospect Theory Explains Newsvendor Behavior written by Xiaoyang Long and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Current understanding in operations management is that Prospect Theory, as a theory of decision making under uncertainty, cannot systematically explain the ordering behavior observed in experiments on the newsvendor problem. We suggest this is because the newsvendor's reference point is assumed to be the status quo, i.e., zero payoff. We propose an alternative based on newsvendor's salient payoffs and show that Prospect Theory can, in fact, account for experimental results.

Download or read book The Handbook of Behavioral Operations written by Karen Donohue and published by John Wiley & Sons. This book was released on 2018-10-16 with total page 688 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive review of behavioral operations management that puts the focus on new and trending research in the field The Handbook of Behavioral Operations offers a comprehensive resource that fills the gap in the behavioral operations management literature. This vital text highlights best practices in behavioral operations research and identifies the most current research directions and their applications. A volume in the Wiley Series in Operations Research and Management Science, this book contains contributions from an international panel of scholars from a wide variety of backgrounds who are conducting behavioral research. The handbook provides succinct tutorials on common methods used to conduct behavioral research, serves as a resource for current topics in behavioral operations research, and as a guide to the use of new research methods. The authors review the fundamental theories and offer frameworks from a psychological, systems dynamics, and behavioral economic standpoint. They provide a crucial grounding for behavioral operations as well as an entry point for new areas of behavioral research. The handbook also presents a variety of behavioral operations applications that focus on specific areas of study and includes a survey of current and future research needs. This important resource: Contains a summary of the methodological foundations and in-depth treatment of research best practices in behavioral research. Provides a comprehensive review of the research conducted over the past two decades in behavioral operations, including such classic topics as inventory management, supply chain contracting, forecasting, and competitive sourcing. Covers a wide-range of current topics and applications including supply chain risk, responsible and sustainable supply chain, health care operations, culture and trust. Connects existing bodies of behavioral operations literature with related fields, including psychology and economics. Provides a vision for future behavioral research in operations. Written for academicians within the operations management community as well as for behavioral researchers, The Handbook of Behavioral Operations offers a comprehensive resource for the study of how individuals make decisions in an operational context with contributions from experts in the field.

Download or read book Behavioral Operational Research written by Leroy White and published by Springer Nature. This book was released on 2019-10-24 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited collection addresses the question of which capabilities and competencies enable Behavioral Operational Research to provide sustained improvement to decision processes. The aim is to show how a focus on capability and competency will not only meet short-term requirements for problem solving and decision support, but also build a solid foundation for the future. The contributors present recent advances in Behavioral OR, with a focus on the ways in which users of models deal with incomplete and imprecise information, subjective boundaries and uncertainty. These chapters are structured around three key dimensions of BOR: capabilities, cognition and aspects of practice.

Download or read book Cognitive Operations written by Konstantinos V. Katsikopoulos and published by Springer Nature. This book was released on 2023-07-05 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines how people make decisions under risk and uncertainty in operational settings and opens the black box by specifying the cognitive processes that lead to human behavior. Drawing on economics, psychology and artificial intelligence, the book provides an innovative perspective on behavioral operations. It shows how to build optimization as well as heuristic models for describing human behavior and how to compare such models on various dimensions such as predictive power and transparency, as well as discussing interventions for improving human behavior. This book will be particularly valuable to academics and practitioners who seek to select a modeling approach that suits the operational decision at hand.

Download or read book Research Methods for Operations and Supply Chain Management written by Christer Karlsson and published by Taylor & Francis. This book was released on 2023-11-15 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Methods for Operations and Supply Chain Management, third edition, is a toolkit of research approaches primarily for advanced students and beginner researchers, but also a reference book for any researcher in operations and supply chain management (OSCM). Many students begin their careers in research limited by the one or few approaches taken by their department. The concise, accessible overviews found here equip them with an understanding of a variety of methods and how to use them, enabling students to tailor their research project to their own strengths and goals. The more seasoned researcher will find comprehensive descriptions and analyses on a wide variety of research approaches. This updated and enhanced edition responds to the latest developments in OSCM, including the growing prominence of services and production of intangible products, the complete supply chain, and the increasing use of secondary data and of mixed approaches. Alternative research approaches are included and explored to help with the planning of research. This edition also includes expanded literature reviews and analysis to guide students towards the next steps in their reading, and more detailed step-by-step advice to tie theory with the research. Including contributions from an impressive range of the field’s leading thinkers in OSCM research, this is a guide that no one embarking on an OSCM research project should be without. Previous editions of this book were published under the title Research Methods for Operations Management and Researching Operations Management.

Download or read book Handbook of the Fundamentals of Financial Decision Making written by Leonard C. MacLean and published by World Scientific. This book was released on 2013 with total page 941 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook in two parts covers key topics of the theory of financial decision making. Some of the papers discuss real applications or case studies as well. There are a number of new papers that have never been published before especially in Part II.Part I is concerned with Decision Making Under Uncertainty. This includes subsections on Arbitrage, Utility Theory, Risk Aversion and Static Portfolio Theory, and Stochastic Dominance. Part II is concerned with Dynamic Modeling that is the transition for static decision making to multiperiod decision making. The analysis starts with Risk Measures and then discusses Dynamic Portfolio Theory, Tactical Asset Allocation and Asset-Liability Management Using Utility and Goal Based Consumption-Investment Decision Models.A comprehensive set of problems both computational and review and mind expanding with many unsolved problems are in an accompanying problems book. The handbook plus the book of problems form a very strong set of materials for PhD and Masters courses both as the main or as supplementary text in finance theory, financial decision making and portfolio theory. For researchers, it is a valuable resource being an up to date treatment of topics in the classic books on these topics by Johnathan Ingersoll in 1988, and William Ziemba and Raymond Vickson in 1975 (updated 2 nd edition published in 2006).

Download or read book Emerging Frontiers in Operations and Supply Chain Management written by B. Vipin and published by Springer Nature. This book was released on 2021-09-15 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited book addresses the challenges in managing the operations and supply chain of organizations in the era of internet of things and Industry 4.0. It presents cutting edge research on real world operations related problems, in-depth analyses, and relevant managerial implications. Wide variety of solution approaches such as quantitative, quantitative, and simulations are presented in the context of managing the operations and supply chains. Consisting of selected papers from the XXIII Annual International Conference of Society of Operations Management, this volume is part of a two volume series with the other book consisting of chapters on quantitative decision making. This edited book covers various quantitative models on operations and supply chain management such as inventory optimization, machine learning-operations research integrated model for healthcare systems, game-theoretic analysis of review strategies in truthful information sharing, design of contracts in supply chains, supply chain optimization, inventory routing, and shop floor scheduling. In addition to the quantitative models, several innovative heuristics are proposed for different problems. This book explores qualitative models on improving the performance of small and medium enterprises and petroleum industries and a simulation model for staff allocation in the information technology industry. Finally, this book provides review articles on vaccine supply chains and behavioral operations management. The book throws light on the emerging trends in the use of analytics, optimization, and simulation tools and empirical analysis to improve the performance of operations and supply chains of organizations. It will serve as an essential resource for practitioners, students, faculty members and scholars in operations management and related areas to gain knowledge and pursue high quality research on developments in areas such as managing the resource management and the solution methodology---innovative tools employed in addressing the real world problems and the different optimization techniques.

Download or read book Profitably Healthy Companies written by Michael O'Malley and published by Columbia University Press. This book was released on 2022-02-15 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every company faces challenges, but some are able to achieve long-term vitality while others flame out. What distinguishes a healthy, high-performing organization? Which ingredients, decisions, and values result in a business that is built for the long haul? Profitably Healthy Companies lays out ten essential principles of organizational development for sustained success. Bringing together practical and academic expertise, W. Warner Burke and Michael O’Malley detail proven methods for every organization at each level. They demonstrate why a focus on employee and community well-being is more likely to ensure lasting profitability than a single-minded focus on the bottom line. Burke and O’Malley explain the keys to company resilience, examining safeguards against decline and disaster as well as tools for generative renewal and growth. They show how organizational culture encourages optimal performance, flexible and adaptive corporate strategy, and employee motivation and commitment. The book emphasizes up-to-the-moment issues, such as how to center diversity and inclusion and the promise and pitfalls of remote work. Burke and O’Malley base their recommendations on research in organizational psychology as well as their own extensive consultative experience, providing a rich array of case studies and examples. Profitably Healthy Companies is a clear and authoritative guide for practitioners, leaders, and decision makers, synthesizing an all-inclusive treatment of organizational life with a comprehensive checklist of what organizations must do in order to thrive.

Download or read book The Handbook of Behavioral Operations written by Karen Donohue and published by John Wiley & Sons. This book was released on 2018-11-06 with total page 688 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive review of behavioral operations management that puts the focus on new and trending research in the field The Handbook of Behavioral Operations offers a comprehensive resource that fills the gap in the behavioral operations management literature. This vital text highlights best practices in behavioral operations research and identifies the most current research directions and their applications. A volume in the Wiley Series in Operations Research and Management Science, this book contains contributions from an international panel of scholars from a wide variety of backgrounds who are conducting behavioral research. The handbook provides succinct tutorials on common methods used to conduct behavioral research, serves as a resource for current topics in behavioral operations research, and as a guide to the use of new research methods. The authors review the fundamental theories and offer frameworks from a psychological, systems dynamics, and behavioral economic standpoint. They provide a crucial grounding for behavioral operations as well as an entry point for new areas of behavioral research. The handbook also presents a variety of behavioral operations applications that focus on specific areas of study and includes a survey of current and future research needs. This important resource: Contains a summary of the methodological foundations and in-depth treatment of research best practices in behavioral research. Provides a comprehensive review of the research conducted over the past two decades in behavioral operations, including such classic topics as inventory management, supply chain contracting, forecasting, and competitive sourcing. Covers a wide-range of current topics and applications including supply chain risk, responsible and sustainable supply chain, health care operations, culture and trust. Connects existing bodies of behavioral operations literature with related fields, including psychology and economics. Provides a vision for future behavioral research in operations. Written for academicians within the operations management community as well as for behavioral researchers, The Handbook of Behavioral Operations offers a comprehensive resource for the study of how individuals make decisions in an operational context with contributions from experts in the field.

Download or read book Supply Chain Risk Mitigation written by Yacob Khojasteh and published by Springer Nature. This book was released on 2022-09-30 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers central issues in mitigating supply chain risks from various perspectives. Today’s supply chains are vulnerable to disruptions that can have a significant impact on firms, business and performance. The aim of supply chain risk management is to identify the potential sources of risks and implement appropriate actions in order to mitigate supply chain disruptions. In this regard, the book presents a wealth of methods, strategies and analyses that are essential for mitigating supply chain risks. As a comprehensive collection of the latest research and cutting-edge developments in supply chain risk and its mitigation, the book is structured into four main parts, addressing supply chain risk strategies and developments; supply chain risk management review; supply chain sustainability and resilience; and supply chain analysis and risk management applications. The contributing authors are leading academic researchers and practitioners, who combine findings and research results with a practical and contemporary view on how companies can best manage supply chain risks and disruptions, as well as how to create resilient and sustainable supply chains. This book can be used as an essential resource for students and scholars who are interested in pursuing research or teaching courses on the rapidly growing field of supply chain management. It also offers an interesting and informative read for managers and practitioners who need to deepen their understanding of effective supply chain risk management.

Download or read book Behavioral Supply Chain Contracting written by Michael Becker-Peth and published by Springer. This book was released on 2019-01-24 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioral operations management is a new and growing research field incorporating behavioral aspects of decision making into operations management models, challenging the assumption of fully rational decision makers. Behavioral aspects include risk-aversion, mental accounting, reference points, or bounded rationality. In this book the author presents experimental and empirical studies that address behavioral decision making in the supply chain contracting context. First, different behavioral aspects are incorporated in the decision making process of a buyback and a revenue sharing contract. Second, an empirical decision maker is analyzed facing a service level contract. Potential readership includes scholars and graduate students who are interested in the field of behavioral operations management and practitioners looking for behavioral aspects of decision making in supply chain contracting context.

Download or read book Research Handbook on Inventory Management written by Jing-Sheng J. Song and published by Edward Elgar Publishing. This book was released on 2023-08-14 with total page 565 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Handbook provides an overview of state-of-the-art research on quantitative models for inventory management. Despite over half a century’s progress, inventory management remains a challenge, as evidenced by the recent Covid-19 pandemic. With an expanse of world-renowned inventory scholars from major international research universities, this Handbook explores key areas including mathematical modelling, the interplay of inventory decisions and other business decisions and the unique challenges posed to multiple industries.

Download or read book Decision making in Humanitarian Operations written by Sebastián Villa and published by Springer. This book was released on 2018-11-27 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together research in humanitarian operations, behavioral operations and dynamic simulation. Part I outlines the main characteristics and strategic challenges of humanitarian organizations in preparedness, knowledge management, climate change and issues related to refugees and social inclusion. Part II gives an introduction to behavioral operations and experiments in single- and multi-agent settings, followed by discussions on quantal theory, framing effect and possible applications in the humanitarian sector. Part III introduces system dynamics and agent-based modeling and discusses how these techniques can be used to study dynamics and decision-making in humanitarian operations. This book is unique in providing a holistic view of the decision-making process and challenges in the humanitarian sector.

Download or read book Risk Management of Supply and Cash Flows in Supply Chains written by Jian Li and published by Springer Science & Business Media. This book was released on 2011-09-15 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk management has become an essential issue in supply chain management, from the modeling of the decision maker's risk preference, and the studies on uncertain elements such as demand, supply, price, lead time, etc., to the consideration of more practical background including cash flow constraints, inventory financing and delayed cash payment. In this new volume, the authors provide a framework to study the interaction of various factors related to risk and their influence on supply chain management. The scope of areas covered includes operations management, decision analysis, and business administration. This book focuses on several key issues of risk management in supply chains. Specifically, an analysis framework is presented for studying the supplier selection problem and identifying the optimal sourcing strategy in a one-retailer two-suppliers supply chain with random yields. The optimal sourcing strategy of a retailer and the pricing strategies of two suppliers under an environment of supply disruption are investigated. Besides, the authors study the dynamic inventory control problems with cash flow constraints, financing decisions as well as delayed cash payment. In addition, originating from the annual international iron ore price negotiation, the authors model the bargaining process to deal with the risk of wholesale price in the game analysis context. Within the three perspectives of risk management in supply chains, the modeling of decision maker's risk preference has been extensively studied and many results have been obtained to guide the practice. However, the analysis on the other two kinds of topics is still in its infancy, and needs more efforts from academia. It is thus the ambition and innovation for this book to contribute on risk management in supply chains in the following ways: (1) characterizing the explicit sourcing strategy (i.e., single sourcing or dual sourcing) to deal with supply disruption risk; (2) introducing the concepts of financial risk measurement by incorporating cash flow constraints, inventory financing and delayed cash payment into inventory management models; and (3) providing insights for the iron ore price negotiation to help steel manufacturers handle the risk of price increase.

Download or read book Behavioral Operations Management written by Christoph H. Loch and published by Now Publishers Inc. This book was released on 2007 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioral Operations Management investigates new developments around behavioral components -- "people issues"--In operations management (OM). While these "people issues" are not new, OM has not dealt with them in a serious or consistent manner until the last 10 years or so. What is new is the emergence of a set of methods and structured areas of study that allow researchers to study these issues within the OM paradigm. The authors provide a definition of Behavioral OM and survey a number of relevant behavioral issues and their applications to the existing OM research. Finally, the authors propose that culture studies in OM may represent a promising direction of future behavioral OM research

Download or read book The Oxford Handbook of Pricing Management written by Özalp Özer and published by Oxford University Press (UK). This book was released on 2012-06-07 with total page 977 pages. Available in PDF, EPUB and Kindle. Book excerpt: A definitive reference to the theory and practice of pricing across industries, environments, and methodologies. It covers all major areas of pricing including, pricing fundamentals, pricing tactics, and pricing management.

Download or read book Markets Games and Strategic Behavior written by Charles A. Holt and published by Princeton University Press. This book was released on 2019-03-12 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: From a pioneer in experimental economics, an expanded and updated edition of a textbook that brings economic experiments into the classroom Economics is rapidly becoming a more experimental science, and the best way to convey insights from this research is to engage students in classroom simulations that motivate subsequent discussions and reading. In this expanded and updated second edition of Markets, Games, and Strategic Behavior, Charles Holt, one of the leaders in experimental economics, provides an unparalleled introduction to the study of economic behavior, organized around risky decisions, games of strategy, and economic markets that can be simulated in class. Each chapter is based on a key experiment, presented with accessible examples and just enough theory. Featuring innovative applications from the lab and the field, the book introduces new research on a wide range of topics. Core chapters provide an introduction to the experimental analysis of markets and strategic decisions made in the shadow of risk or conflict. Instructors can then pick and choose among topics focused on bargaining, game theory, social preferences, industrial organization, public choice and voting, asset market bubbles, and auctions. Based on decades of teaching experience, this is the perfect book for any undergraduate course in experimental economics or behavioral game theory. New material on topics such as matching, belief elicitation, repeated games, prospect theory, probabilistic choice, macro experiments, and statistical analysis Participatory experiments that connect behavioral theory and laboratory research Largely self-contained chapters that can each be covered in a single class Guidance for instructors on setting up classroom experiments, with either hand-run procedures or free online software End-of-chapter problems, including some conceptual-design questions, with hints or partial solutions provided