Risk aversion in the supply chain: Evidence from replenishment decisions |
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Institution: | Department of Industrial Management, National Taiwan University of Science and Technology, Taiwan |
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Abstract: | This study investigates the impact of individual risk aversion on replenishment decisions in a multi-echelon supply chain, and explores whether this impact is affected by experiential learning. The methodology applied is that of observational studies, while the multi-echelon supply chain is modeled through the classical Beer Game. Participants in the study are purchasing and supply chain professionals. Results suggest that risk aversion leads to higher orders, Risk aversion persists even after experience of the game has been gained. |
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Keywords: | Supply chain Learning Risk aversion Beer game |
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