Uncertain about Uncertainty: Some Observations on Probability and Decision Making

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. Concludes that uncertainty need not stop decision making; dilemmas can be resolved.

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Year of publication:	1991
Authors:	Shelley, Charles J.
Published in:	Journal of Business & Industrial Marketing. - MCB UP Ltd, ISSN 2052-1189, ZDB-ID 2019934-X. - Vol. 6.1991, 1/2, p. 5-13
Publisher:	MCB UP Ltd
Subject:	Decision making \| Marketing planning \| Probability \| Problem solving \| Risk

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Type of publication:	Article
Type of publication (narrower categories):	research-article
Language:	English
Other identifiers:	10.1108/EUM0000000002747 [DOI]
Source:	Other ZBW resources

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