Newsvendor Game: A Behavioral Exercise in Decision Making under Risk

Surti, Chirag; Celani, Anthony

doi:10.1111/dsji.12194

Cited by 10 publications

(8 citation statements)

References 38 publications

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“…DuHadway and Dreyfus (2017), for example, present a simulation game that takes about 80 min and focuses mainly on supply chain management. Another example is a behavioral exercise game in decision-making that requires a time investment of about 56–105 min (Surti and Celani, 2019) or a pricing game that would require a minimum of 75 min (Zourrig and Sarofim, 2018). However, many existing simulation games require intense preparation, and the workload may end up in a range of 15–30 h (GLO-BUS Software, 2022; TOPSIM, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

Digital serious game to engage business students in active lectures: a pilot study

Tobias

Pussep²,

Schief³

2022

JIEB

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Purpose This study aims to investigate an integrated approach that stimulates engagement and interaction in the online learning environment. A simulation game was developed to support the specific learning objectives (LOs) of the lecture and give students the opportunity to apply relevant practical skills (management and group decision-making). The simulation is designed to engage students, facilitate group work in teams and actively apply the knowledge from the lectures. Design/methodology/approach Qualitative research methods and a pilot version of the simulation game in an actual classroom setting were used. The primary LO was to apply decision-making in groups and experience the consequences of decisions on business success. The students were assigned randomly to five groups representing different competing companies. Findings This study revealed that a simulation game with a reduced scope can facilitate interaction and participation in online lectures. It demonstrated that it is possible to obtain the main benefits of simulation-based learning with a simple game that consists of few decision variables and requires minimal training. Research limitations/implications There are limitations to this pilot study, some of which need to be address in future research. One limitation is the small number of participants (21). Another limitation is that all participants were from a class at an Asian university. While adding to existing research that focused primarily on Anglo-America and Europe, this study’s approach should be evaluated with more subjects from varying cultural backgrounds to validate the findings. The evaluation could be improved with more participants but also additional questions to measure how and why this study’s approach benefits learning success. E.g. it should be explored what component of decision-making or group learning was most significant. With this, it would also be interesting to explore incremental learning and learning across groups along the study duration. Practical implications The simulation game can be used in business education. Students enjoyed the interaction with their peers and the instructor. The students stated that it was a good learning experience for them and they made good learning progress. Originality/value The prototype demonstrated the general feasibility and the smooth handling of the practical application and integration in online lectures. The aim to develop a serious simulation game for online classes was achieved. It was possible to obtain the main benefits of simulation-based learning with a simple game that consists of few decision variables and therefore requires minimal training and time.

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Section: Literature Reviewmentioning

confidence: 99%

Digital serious game to engage business students in active lectures: a pilot study

Tobias

Pussep²,

Schief³

2022

JIEB

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“…Despite the name, puzzle games do not always involve real puzzle pieces. Through the process of iteratively asking and answering questions, students gradually piece together the necessary information to learn the subject in a puzzle game (Surti & Celani, 2019). Action games rely on students’ physical movements, such as walking around the classroom or building products in a makeshift production line, as the primary way of learning.…”

Section: Searchable Spreadsheetmentioning

confidence: 99%

A Searchable Spreadsheet for Educational Games in the Decision Sciences

Chen

2021

Decision Sci J Innov Edu

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Educational games are effective pedagogical tools capable of enhancing teaching. A number of organizations and journals have been promoting teaching with games and publishing educational game articles for decades. However, many instructors have never used a game in teaching, and studies show that the lack of information about games is part of the reason. To help instructors find games compatible with their course content and preferences, we present a searchable spreadsheet that samples peerreviewed game articles in the field of decision science. We also share our experiences in choosing and using games to address some common concerns instructors might have before adopting a game. As a result, we hope that more instructors will consider using games for instructional purposes in the future.

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“…Other authors have presented additional classroom exercises or approaches to teach various inventory management concepts and techniques. Several authors have created simulation exercises to demonstrate decision-making in a singleperiod (newsvendor) inventory management context such as Robb et al (2010), who discussed an in-class simulation of a multi-item newsvendor scenario, and Surti and Celani (2019) whose exercise simulated the behavioral aspects of decisionmaking under risk within the newsvendor framework. Garcia-Sabater et al ( 2011) discussed the value of incorporating student-created blogs when teaching inventory management.…”

Section: Teaching Inventory Managementmentioning

confidence: 99%

An inquiry‐based, partial information exercise for teaching inventory management

Drake

Atkins

2021

Decision Sci J Innov Edu

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We present a classroom exercise developed to teach the tools of determining order quantities and reorder points for inventory management. This exercise presents the students with an inventory management scenario but only provides a portion of the data that are required to set order quantities and reorder points. The activity is a type of inquiry-based, partial information exercise that requires the students to identify the data they need and request it from the instructor to develop their recommendations. It has been used successfully at both the undergraduate and graduate level to teach inventory management concepts.

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Newsvendor Game: A Behavioral Exercise in Decision Making under Risk

Cited by 10 publications

References 38 publications

Digital serious game to engage business students in active lectures: a pilot study

Digital serious game to engage business students in active lectures: a pilot study

A Searchable Spreadsheet for Educational Games in the Decision Sciences

An inquiry‐based, partial information exercise for teaching inventory management

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