Title

Measuring uncertainty

Publication Type

Journal Article

Publication Date

1975

Abstract

The decision analysis approach to problem solving is widely documented. A range of articles and books have considered ways for analysing problems under uncertainty and also methods for formalising an individual's attitude towards risk in terms of cardinal utility measures. In order to carry out such analyses the uncertainty in any problem has to be explicitly quantified in probabilistic terms. The present article reviews procedures for assessing probabilities and proposes practical guidelines indicating those methods which, in the authors' opinion, are most fruitful for executives to use.

Discipline

Business

Research Areas

Strategy and Organisation

Publication

Omega-International Journal of Management

Volume

3

Issue

6

First Page

657

Last Page

672

ISSN

0305-0483

Identifier

10.1016/0305-0483(75)90069-9

Publisher

Elsevier

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