Choosing between discrete marketing policy alternatives under uncertain market response conditions |
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Authors: | Dan Sarel DBA Joseph Yassour DBA |
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Institution: | (1) University of Miami, Miami;(2) Ruppin Institute, Israel |
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Abstract: | Models for decisions under uncertainty are reviewed and the use of expected utility is recommended. A general framework for
choosing between discrete marketing policy alternatives is developed, allowing for different non-Gaussian probability distributions
of market response functions to be assumed. An example of an actual application is presented. |
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