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“Attempts to improve decision-making are unlikely to succeed without an understanding of how and why people currently … make choices. In this accessible and fascinating book, Konstantinos Katsikopoulos shows how mathematical models of decision … heuristic decision-making models, compares the models on various dimensions such as predictive power and transparency, and …
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In this paper, we discuss discrete choice theory and show how this theory can be used to quantify learning effects in experimental studies. We argue why the ordering quantities in newsvendor experiments should follow a multinomial logit distribution. We provide a robustness analysis to explain...
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