An Appreciation of Decision Analysis in Management

Jock Anderson () and J. Brian Hardaker

Review of Marketing and Agricultural Economics, 1972, vol. 40, issue 04, 15

Abstract: 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.

Keywords: Research; Methods/; Statistical; Methods (search for similar items in EconPapers)
Date: 1972
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:remaae:9649

DOI: 10.22004/ag.econ.9649

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