This paper presents and analyzes the results of a decision‐making experiment in inventory management under uncertainty. The experiment included 81 participants who played the role of a small car importer facing random demand as in the (Q,R) model. The results show strong evidence of learning...

It is generally accepted that the three major dimensions of project success are time, budget, and quality. Most of the research in project planning is focused on the time-cost trade-off, and only a few papers have considered the three dimensions together. This paper describes the evolution of...

This paper investigates repetitive purchase decisions of perishable items in the face of uncertain demand (the newsvendor problem). The experimental design includes: high, or low profit levels; and uniform, or normal demand distributions. The results show that in all cases both learning and...