We consider an oligopolistic market game, in which the players are competing firm in the same market of a homogeneous consumption good. The consumer side is represented by a fixed demand function. The firms decide how much to produce of a perishable consumption good, and they decide upon a...

Newsvendors, such as newspaper companies, face the challenge that they need to decide how many units to produce before facing the demand by customers, and that their products are perishable. Experimental studies have documented that individuals do not find the optimal solution to that problem...