| Abstract: |
During the last decade, scholars have studied the behavior of decision-making
in newsvendor settings and have identified numerous behavior patterns for
deviating from normative behavior. However, there is a dearth of research
which have examined the influence of individual heterogeneity on
decision-making in newsvendor settings. This study examines the level of
construal (Abstract and concrete) using construal level theory (CLT) on
performance in newsvendor games. In addition, this study measures the
cognitive reflection of individuals using cognitive reflection test (CRT)
ex-ante to analyze the true impact of how people construe a problem and its
impact on their decision-making. |