Article ID Journal Published Year Pages File Type
1033320 Omega 2009 8 Pages PDF
Abstract
A probability assessment framework is outlined for an organizational decision involving a conditioning event (CE). The decision may, for example, involve a new-product launch (strategic decision) dependent on the outcome of market research (CE). The framework illustrates how Bayesian revision could be employed as related “news” arrives intermittently to revise current probabilities prior to decision implementation. A unique contribution of this paper is its utilization of the analytic hierarchy process to ascertain a set of consistent and coherent probabilities for the event/sample spaces at all stages of the decision process.
Related Topics
Social Sciences and Humanities Business, Management and Accounting Strategy and Management
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