An Appreciation of Decision Analysis in Management

Decision analysis, the practice of Bernoullian decision theory and Bayesian statistics, is reviewed in relation to its application in management. Aspects of the scaling of beliefs (probabilities) and preferences (utilities) are discussed, focussing on practical problems. It is concluded that the solution of these difficulties may best be sought through more widespread analysis of real-world decisions.


Issue Date:
1972-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/9649
Published in:
Review of Marketing and Agricultural Economics, Volume 40, Number 04
Page range:
170-184
Total Pages:
15




 Record created 2017-04-01, last modified 2017-08-23

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)