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This investigation combines two questions for expected utility theory: 1. When do the shared preferences among expected utility maximizers conform to the dictates of expected utility? 2. What is the impact on expected utility theory of allowing preferences for prizes to be state-dependent? Our...
Persistent link: https://www.econbiz.de/10009440970
This essay considers decision-theoretic foundations for robust Bayesian statistics. We modify the approach of Ramsey, de Finetti, Savage and Anscombe and Aumann in giving axioms for a theory of robust preferences. We establish that preferences which satisfy axioms for robust preferences can be...
Persistent link: https://www.econbiz.de/10009441010
Count data arise in various organizational settings. When the release of such data is sensitive, organizations need information-disclosure policies that protect data confidentiality while still providing data access. In contrast to extant disclosure policies, we describe a new policy for count...
Persistent link: https://www.econbiz.de/10009441032
This research investigates the impact of a large-scale assortment reduction on customer retention, utilizing a model we develop to explore the effect on sales at both the store level and the category level simultaneously. We apply our model to a data set provided by an online grocer. The data...
Persistent link: https://www.econbiz.de/10009441079