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34 records from EconBiz based on author Name
1. Co-opetition strategies in supply chains with strategic customers
Yang, Weizhe; Wu, Yaozhong; Gou, Qinglong; Zhang, Wen;2023
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link Link
Citations: 2 (based on OpenCitations)
2. A Behavioral Study on Abandonment Decisions in Multi-Stage Projects
abstractIn uncertain environments, project reviews provide an opportunity to make “continue or abandon” decisions and thereby maximize a project’s expected payoff. We experimentally investigate continue/abandon decisions in a multi-stage project under two conditions: when the project is reviewed at every stage and when review opportunities are limited. Our results confirm findings in the literature that project abandonment tends to be delayed, yet we also observe premature termination. Decisions are highly path dependent; in particular, subjects are more likely to abandon after observing reduced project value, and abandonment rate is higher near the middle—rather than near the beginning or end—of a project. Interestingly, when reviews are limited, subjects are less likely to continue a project that should be abandoned. At the same time, subjects are more inclined to review again after receiving negative (rather than positive) news. Our data are explained well by a model that incorporates three behavioral concepts—gains or losses from comparing the project value with an internal adaptive reference point, sunk cost bias, and status quo bias. Our work suggests that more frequent reviews need not lead to better project performance, and it also identifies contexts in which outside intervention is most valuable in project decision making
Long, Xiaoyang; Nasiry, Javad; Wu, Yaozhong;2021
Availability: Link
3. Newsvendor Competition with Endogenous Biases
abstractExtensive studies have revealed that newsvendor decisions by human decision-makers are often biased by cognitive limitations, and, therefore, fail to achieve optimal profits prescribed by normative models. These biases are typically considered liabilities in individual inventory decision-making, and much research has focused on developing methods to debias the decision-maker—for example, by providing decision support tools. However, in competitive set- tings biases can provide a competitive advantage, such that a biased newsvendor may earn a higher profit than an unbiased one. This raises the question of whether and when firms should debias their decision-makers in such settings. In this paper, we analyze decision biases that are endogenous rather than exogenous in competing newsvendor games. Specifically, we develop a two-stage game theoretic model in which competing firms first select their decision-makers typefied by their bias levels, and then engage in a classic inventory competition game. Our analysis confirms the positive effect of the decision-maker’s bias on a firm’s economic outcome. However, this effect only appears in competitions in which decision biases are exogenously given. When biases are endogenously selected, firms are always (weakly) worse off than if they all had rational decision-makers. Our results suggest that debiasing at the industry level (e.g., adopting advanced inventory planning software) could benefit all players; however, individual firms do not have the incentive to do so in the absence of coordination mechanisms
Long, Xiaoyang; Wu, Yaozhong;2023
Availability: Link Link
4. A behavioral study on abandonment decisions in multistage projects
Long, Xiaoyang; Nasiry, Javad; Wu, Yaozhong;2020
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link
Citations: 18 (based on OpenCitations)
5. Encouraging help across projects
Crama, Pascale; Sting, Fabian J.; Wu, Yaozhong;2019
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link
Citations: 23 (based on OpenCitations)
6. Managing Cost Salience and Procrastination in Projects : Compensation and Team Composition
abstractThe rising trend of projects with high-skilled and autonomous contributors increasingly exposes managers to the risk of idiosyncratic individual behaviors. In this paper, we examine the effects of an important behavioral factor, an individual's cost salience, the common behavioral tendency in inter-temporal decision-making wherein workers may attach greater salience and perceived cost to immediate effort than for future work. Cost salience, which may differ across individuals, often leads to procrastination in early stages of a project and backloaded effort over the course of the project. We model the problem confronting the manager of a project whose quality is adversely impacted by such distortion of individual effort over time, which also (indirectly) influences the effort allocation of other project contributors. Complementary to prior works focused on the planning and scheduling tasks of project management in the absence of human behavior, we find that a behaviorally focused manager should reward contributions made in earlier stages of a project. Our analytical results also yield interesting insights on the optimal constitution of project teams: project teams with diverse levels of cost salience will perform better than teams with similar cost salience. We also show that nuanced information exchange policies can help managers elicit smoothed effort, suggesting that the practice of creating fluid teams might have previously unrecognized benefits when behavioral aspects of projects are considered. We conclude this groundbreaking work on behavioral project management with insights and organizational implications for project managers
Wu, Yaozhong; Ramachandran, Karthik; Krishnan, Vish;2015
Availability: Link Link
Citations: 6 (based on OpenCitations)
7. Fairness and Competition in Supply Chains
abstractIn supply chain transactions, members care how profit is distributed as well as their own payoff. A retailer prefers fairness when he earns less than his supplier. While existing research focuses on fairness in the vertical competition between an upstream supplier and a downstream retailer, this paper studies the impacts of fairness when a retailer is engaged simultaneously in vertical competition with the supplier and in horizontal competition with other retailers. In particular, we consider a setting where a supplier sells differentiable products through two retailers who compete either on quantity or on price. We analyze the influence of fairness on the behavior and performance of the supply chain members. We characterize and compare equilibrium solutions in different competition situations. Our analysis identifies circumstances where fairness may influence the economic outcomes to the fair-minded, the rational retailers, and the supply chain as a whole for either better or worse. More importantly, we find that the presence of horizontal competition can reverse the impact of fairness
QI, Jin; Wu, Yaozhong; XIE, Chi;2020
Availability: Link Link
8. Preferences for contractual forms in supply chains
Lu, Lijian; Wu, Yaozhong;2015
Type: Aufsatz in Zeitschrift; Article in journal;
9. Managing cost salience and procrastination in projects : compensation and team composition
Wu, Yaozhong; Ramachandran, Karthik; Krishnan, Vish;2014
Type: Aufsatz in Zeitschrift; Article in journal;
10. Distributional and peer-induced fairness in supply chain contract design
Ho, Teck-Hua; Su, Xuanming; Wu, Yaozhong;2014
Type: Aufsatz in Zeitschrift; Article in journal;