Risk attitude assessment using roulette and a supply chain simulation

ABSTRACT Many topics that are taught in supply chain management (SCM) programs include elements of variability and risk. With quantitative tools in particular, it is assumed that the decision makers using the tools are risk neutral, which is typically not the case in real‐life decision situations. T...

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Bibliographic Details
Published in:Decision sciences journal of innovative education 2023-01, Vol.21 (1), p.26-36
Main Authors: Atkins, Ryan, Drake, Matthew
Format: Article
Language:English
Subjects:
Attitude Measures
Classroom Communication
Educational Games
Games
games and simulations
Information Management
Operations management
Risk
Risk assessment
Simulation
Student Attitudes
Supply and Demand
Supply chain management
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Summary:ABSTRACT Many topics that are taught in supply chain management (SCM) programs include elements of variability and risk. With quantitative tools in particular, it is assumed that the decision makers using the tools are risk neutral, which is typically not the case in real‐life decision situations. The topic of an individual's attitude toward risk has received limited attention in SCM literature and is not a high‐profile topic in SCM textbooks. The teaching exercise presented in this paper uses two games—roulette and a SCM simulation—to provide students with an assessment of their own attitude toward risk, and in doing so, facilitates a classroom discussion of risk and risk attitude. These games were developed by the authors and can be played either within Excel or a web application.
ISSN:1540-4595
1540-4609
DOI:10.1111/dsji.12276