Prospect Theory and the Newsvendor Problem
研究了前景理论能否解释报童问题中实验室实验观察到的系统性订购偏差，发现前景理论无法解释这些一致性的实证结果。
The newsvendor problem is a fundamental decision problem in operations management. Various independent experimental studies in laboratory settings have shown similar deviations from the theoretical optimal order quantity. We clarify that Prospect Theory, a prevalent framework for decision making under uncertainty, cannot explain the consistent empirical findings. This paper was accepted by Yossi Aviv, operations management.