English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Zendy Plus

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Zendy Tools

Zendy Open

In this paper we establish a link between probabilistic cost efficiency and bounded rationalityin the newsvendor model. This establishes a framework where bounded rationalitycan be examined rigorously by statistical methods. The paper offers a relatively deep theoreticalanalysis of underorders/overorders in the newsvendor model. The theory is supportedby empirical  findings from our analysis of empirical data from laboratory experiments. Inparticular, we observe that underorders are systematically larger than overorders, an issuethat our theoretical model explains. From statistical tests we conclude that all variability inour data can be explained by probabilistic cost efficiency and risk aversion

Probabilistic Cost Efficiency and Bounded Rationality in the Newsvendor Model