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.

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Year of publication:	1972
Authors:	Anderson, Jock R. ; Hardaker, J. Brian
Published in:	Review of Marketing and Agricultural Economics. - Australian Agricultural and Resource Economics Society - AARES. - Vol. 40.1972, 04
Publisher:	Australian Agricultural and Resource Economics Society - AARES
Subject:	Research Methods/ Statistical Methods

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005803703