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...

State-of-the-art revenue management systems combine forecasting and optimization algorithms with human decision-making. However, only a few existing contributions consider the behavioral aspects of revenue management. To extend the related research, we examine the impact of nonstationary demand...