Do personal traits influence inventory management performance?—The case of intelligence, personality, interest and knowledge
The purpose of this study is to investigate the influence of four personal traits (intelligence, knowledge, personality and interests) on performance in a structurally simple, yet dynamically complex inventory management task. We base our model on PPIK theory from cognitive psychology and ground the experiment we conduct on the tradition of dynamic decision making research. Findings are that intelligence is the strongest predictor of inventory management performance, while the analysis shows weaker but significant relations between the other traits and performance. Regarding interests, we find that a strong interest for social issues leads to higher cost and, thus, worse performance. A similar detrimental impact on performance has a personality that is open for new experiences. Implications for research comprise investigating the relationship between the four traits and accounting for different task complexities. While obviously intelligence or personality of inventory managers cannot easily be changed, this research can help identifying favorable combinations of psychological traits that can be used in personnel selection. The value of this paper lies in contributing to behavioral theory building in operations management by describing and interpreting the psychological foundations for one of the most notorious tasks: controlling a stock of finished products and adapting its inflow to its outflow.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 142 (2013)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://www.elsevier.com/locate/ijpe|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lurie, Nicholas H. & Swaminathan, Jayashankar M., 2009. "Is timely information always better? The effect of feedback frequency on decision making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 108(2), pages 315-329, March.
- John D. Sterman, 1989. "Modeling Managerial Behavior: Misperceptions of Feedback in a Dynamic Decision Making Experiment," Management Science, INFORMS, vol. 35(3), pages 321-339, March.
- Ali al-Nowaihi & Sanjit Dhami, 2005.
"A Note On The Loewenstein-Prelec Theory Of Intertemporal Choice,"
Discussion Papers in Economics
05/18, Department of Economics, University of Leicester.
- al-Nowaihi, Ali & Dhami, Sanjit, 2006. "A note on the Loewenstein-Prelec theory of intertemporal choice," Mathematical Social Sciences, Elsevier, vol. 52(1), pages 99-108, July.
- Rachel Croson & Karen Donohue, 2006. "Behavioral Causes of the Bullwhip Effect and the Observed Value of Inventory Information," Management Science, INFORMS, vol. 52(3), pages 323-336, March.
- George Loewenstein & Drazen Prelec, 1992. "Anomalies in Intertemporal Choice: Evidence and an Interpretation," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 573-597.
- Feng, Tianjun & Keller, L. Robin & Zheng, Xiaona, 2011. "Decision making in the newsvendor problem: A cross-national laboratory study," Omega, Elsevier, vol. 39(1), pages 41-50, January.
- Diehl, Ernst & Sterman, John D., 1995. "Effects of Feedback Complexity on Dynamic Decision Making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 62(2), pages 198-215, May.
- Depositario, Dinah Pura T. & Nayga Jr., Rodolfo M. & Wu, Ximing & Laude, Tiffany P., 2009. "Should students be used as subjects in experimental auctions?," Economics Letters, Elsevier, vol. 102(2), pages 122-124, February.
- Smith, Vernon L, 1976. "Experimental Economics: Induced Value Theory," American Economic Review, American Economic Association, vol. 66(2), pages 274-279, May.
- Sterman, John & Booth Sweeney, Linda, 2002. "Cloudy Skies: Assessing Public Understanding of Global Warming," Working papers 4361-02, Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Guala,Francesco, 2005.
"The Methodology of Experimental Economics,"
Cambridge University Press, number 9780521618618, December.
- Smith, Vernon L, 1982. "Microeconomic Systems as an Experimental Science," American Economic Review, American Economic Association, vol. 72(5), pages 923-955, December.
- Selten, Reinhard & Stoecker, Rolf, 1986. "End behavior in sequences of finite Prisoner's Dilemma supergames A learning theory approach," Journal of Economic Behavior & Organization, Elsevier, vol. 7(1), pages 47-70, March.
- Sterman, John D., 1989. "Misperceptions of feedback in dynamic decision making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 43(3), pages 301-335, June.
- Peterson, Robert A, 2001. " On the Use of College Students in Social Science Research: Insights from a Second-Order Meta-analysis," Journal of Consumer Research, Oxford University Press, vol. 28(3), pages 450-461, December.
- Erling Moxnes, 1998. "Not Only the Tragedy of the Commons: Misperceptions of Bioeconomics," Management Science, INFORMS, vol. 44(9), pages 1234-1248, September.
- Xuanming Su, 2008. "Bounded Rationality in Newsvendor Models," Manufacturing & Service Operations Management, INFORMS, vol. 10(4), pages 566-589, May.
- Cronin, Matthew A. & Gonzalez, Cleotilde & Sterman, John D., 2009. "Why don't well-educated adults understand accumulation? A challenge to researchers, educators, and citizens," Organizational Behavior and Human Decision Processes, Elsevier, vol. 108(1), pages 116-130, January.
- Maurice E. Schweitzer & Gérard P. Cachon, 2000. "Decision Bias in the Newsvendor Problem with a Known Demand Distribution: Experimental Evidence," Management Science, INFORMS, vol. 46(3), pages 404-420, March.
- Urban, Timothy L., 2005. "Inventory models with inventory-level-dependent demand: A comprehensive review and unifying theory," European Journal of Operational Research, Elsevier, vol. 162(3), pages 792-804, May.
- Hau L. Lee & V. Padmanabhan & Seungjin Whang, 1997. "Information Distortion in a Supply Chain: The Bullwhip Effect," Management Science, INFORMS, vol. 43(4), pages 546-558, April.
- Gary E. Bolton & Elena Katok, 2008. "Learning by Doing in the Newsvendor Problem: A Laboratory Investigation of the Role of Experience and Feedback," Manufacturing & Service Operations Management, INFORMS, vol. 10(3), pages 519-538, September.
When requesting a correction, please mention this item's handle: RePEc:eee:proeco:v:142:y:2013:i:1:p:37-50. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.