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Behavioral Decision-Making in Operations Management.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Behavioral Decision-Making in Operations Management./
Author:	Li, Jiawei.
Description:	1 online resource (136 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 84-04, Section: B.
Contained By:	Dissertations Abstracts International84-04B.
Subject:	Behavioral sciences. -
Online resource:	click for full text (PQDT)
ISBN:	9798845452139

Behavioral Decision-Making in Operations Management.
Li, Jiawei.

Behavioral Decision-Making in Operations Management. - 1 online resource (136 pages)

Source: Dissertations Abstracts International, Volume: 84-04, Section: B.

Thesis (Ph.D.)--University of Michigan, 2022.

Includes bibliographical references

In this dissertation, I explore the role of human decision-making in operations management. In the first part of the dissertation, I compare the performance of teams and individuals in two canonical operational settings and find that teams do not always outperform individuals. For Newsvendor inventory decision-making, teams exhibit a similar degree of the "pull-to-center" bias and order too close to the mean of demand. In a strategic information sharing game, teams outperform individuals in terms of earning profits only as the retailer who has a clear strategy to benefit from misreporting demand signals. I then implement a framework that studies team decision mechanisms by analyzing text chats between team members. I find that the logic leading to "optimal/rational" decision-making may or may not be frequently mentioned or found compelling in team discussions. In the second part of the dissertation, I explore how humans make dynamic resource allocation decisions. The decision maker - a product development manager - is given a limited budget for design improvement opportunities that arrive sequentially; the opportunities are beneficial but implementing them is costly. I find that most subjects perform well in a simple setting where the design change cost is constant throughout the decision horizon, but subjects perform heterogeneously in the more complex and realistic increasing cost setting. In the latter setting, some top performers effectively decompose the problem into two simpler sub-problems, each of which they handle nearly optimally as in the simpler experimental condition. I test managerial interventions based on these insights and show they can improve subject performance. In the third part of the dissertation, I study a procurement process where the manufacturer first holdsan auction with suppliers for a prototype product; after the auction, renegotiations will happen as design changes are needed. I use game theory to analyze a practical mechanism that constrains such renegotiation by pre-limiting design change expenditures. I find that such a mechanism may not benefit the manufacturer depending on the supply base condition. A follow-up experiment isproposed to study humans' ability to implement this mechanism.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798845452139Subjects--Topical Terms:

1148596
Behavioral sciences.
Subjects--Index Terms:

Operations managementIndex Terms--Genre/Form:

554714
Electronic books.

Behavioral Decision-Making in Operations Management.
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520 $a In this dissertation, I explore the role of human decision-making in operations management. In the first part of the dissertation, I compare the performance of teams and individuals in two canonical operational settings and find that teams do not always outperform individuals. For Newsvendor inventory decision-making, teams exhibit a similar degree of the "pull-to-center" bias and order too close to the mean of demand. In a strategic information sharing game, teams outperform individuals in terms of earning profits only as the retailer who has a clear strategy to benefit from misreporting demand signals. I then implement a framework that studies team decision mechanisms by analyzing text chats between team members. I find that the logic leading to "optimal/rational" decision-making may or may not be frequently mentioned or found compelling in team discussions. In the second part of the dissertation, I explore how humans make dynamic resource allocation decisions. The decision maker - a product development manager - is given a limited budget for design improvement opportunities that arrive sequentially; the opportunities are beneficial but implementing them is costly. I find that most subjects perform well in a simple setting where the design change cost is constant throughout the decision horizon, but subjects perform heterogeneously in the more complex and realistic increasing cost setting. In the latter setting, some top performers effectively decompose the problem into two simpler sub-problems, each of which they handle nearly optimally as in the simpler experimental condition. I test managerial interventions based on these insights and show they can improve subject performance. In the third part of the dissertation, I study a procurement process where the manufacturer first holdsan auction with suppliers for a prototype product; after the auction, renegotiations will happen as design changes are needed. I use game theory to analyze a practical mechanism that constrains such renegotiation by pre-limiting design change expenditures. I find that such a mechanism may not benefit the manufacturer depending on the supply base condition. A follow-up experiment isproposed to study humans' ability to implement this mechanism.
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