Decision Analysis as an Aid to Strategy
Statistical decision theory is a theory of decision-making, i.e., of selecting among alternatives. It is not a theory of problem solving, i.e., of finding the cause of a particular set of symptoms. Thus, if the problem or opportunity is defined poorly even the best analysis thereafter will be of lim...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
1984
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/3950 |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | Statistical decision theory is a theory of decision-making, i.e., of selecting among alternatives. It is not a theory of problem solving, i.e., of finding the cause of a particular set of symptoms. Thus, if the problem or opportunity is defined poorly even the best analysis thereafter will be of limited value. In fact, it could be detrimental. |
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