Sets out the simple structure of a decision dilemma. Shows how to evaluate the possible scenarios that could be encountered. Discusses the role of probability and shows how to combine probability and economic consequences into a simple comparison between risky and conservative courses of action....

Explores the concept of uncertainty in marketing decision making. Offers a structure of a decision dilemma with advice on how to evaluate possible scenarios arising from it. Examines the significance of probability, demonstrating the combination of probability and economic consequences into a...

Forecasts of demand for innovative, high‐technology products in the 1980s have usually erred on the high side, often by as much as 50 percent or more. Business decisions based on those inflated forecasts have sometimes spelled disaster: empty plants, layoffs, even bankruptcy. This article...