Integrated Bayesian decision: A case
Alan F. Smith D.B.A., Eddie V. Easley Ph.D.
Journal of the Academy of Marketing Science · 1974 · Volume 2 · Issue 3
Abstract
The process described in this article provides a framework for combining the judgments and experiences of each member of a decision-making unit. Utilizing the Bayesian approach to decision-making and the Jury of Executive Opinion the model may be of assistance to management teams, Boards of Directors and committees in reaching a consensus on critical decisions. The data are based on an actual case experience familiar to the authors.
Keywords
Expected Profit, Perfect Information, Figure Skating, Ticket Sale, Charter Accountant
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