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In this paper, we compare the investment decisions of groups (stock clubs) and individuals. Both individuals and clubs are more likely to purchase stocks that are associated with good reasons (e.g., a company that is featured on a list of most-admired companies). However, stock clubs favor such...

We propose a behavioral theory to predict actual ordering behavior in multi-location inventory systems. The theory rests on a well-known stylized fact of human behavior: People's preferences are reference-dependent. We incorporate reference-dependence into the newsvendor framework by assuming...