The Effect of Risk Aversion and Experiential Learning on Domain Knowledge Acquisition Using the Beer Game

This study aims to determine the effects of risk aversion and experiential learning on decision making regarding inventory management in supply chain management. The experiment replicated the replenishment decision model in a beer game. A total of 33 subjects participated in the experiment, including students and inventory control experts in the Department of Industrial Engineering at the Tokyo University of Science. In this study, it was found that the decision-making results tended to differ depending on the degree of risk aversion after a number of experiments. Future work is needed to analyze the impact of the factors identified in this study on supply chain performance.