报告题目：The Impact of Social Comparison on Newsvendor Decisions: An Experimental Investigation
报告人：徐亮 新加坡管理大学
报告时间：2022年12月7日(周三) 16:00-17:30
腾讯会议ID：337 514 023
内容摘要
For humans, it is important not just to perform well but also to perform well relative to others. However, extant research in inventory decisions focuses on individual decision biases, thus stripping the social dimension from the decision-making context. This study examines how individual newsvendor decisions are influenced by social comparison. To answer this question, we conducted an experiment in which we manipulated social comparison by providing decision-makers with different information about their peers: orders only, whose profit is ranked higher (without providing the exact profit information), and the exact profits. The data show that providing the rank information influences the players' inventory decisions the most and, importantly, improves their performance compared to the individual newsvendor. Using a structural model estimation, we demonstrate that the profit-proportional mechanism of social comparison is non-significant. In other words, at least in settings our experiment simulates, only rank-based social comparison plays a role. Our results also show that the psychological dis-utility of being inferior is more salient than the psychological reward of being superior, namely, peer pressure in our context becomes fear pressure. As a result, subjects tend to match the decision of their peers to avoid the very possibility of being outperformed.
主讲人简介
Liang (Leon) Xu is an assistant professor of Operations Management at the Lee Kong Chian School of Business, Singapore Management University (SMU). He earned his Ph.D. in Supply Chain Management from Smeal College of Business, Penn State University. Before joining SMU, he was an assistant professor at University of Nebraska-Lincoln from 2019-2022. His research interest resides in healthcare and pharmaceutical supply chain, behavioral operations, and data analytics. His research has been published in journals such as M&SOM and he was invited to give talks at FDA for his research work on regulatory compliance.
