Does the payment scheme have an effect on inventory decisions in the newsvendor problem? Keeping the net profit structure constant, we examine three payment schemes that can be interpreted as the newsvendor's order being financed by the newsvendor herself (scheme O), by the supplier through...

Averaging estimates is an effective way to improve accuracy when combining expert judgments, integrating group members' judgments, or using advice to modify personal judgments. If the estimates of two judges ever fall on different sides of the truth, which we term bracketing, averaging must...

Due to an error in typesetting, Figures 1-4 and Tables 1-3 were incorrectly labeled as part of this paper in Management Science, Vol. 52, No. 1, January 2006, pp. 111-127. The figures and tables are reprinted correctly below and in the electronic version.