Risk aversion in the supply chain: Evidence from replenishment decisions

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...