Bayesian Decision Theory in Pricing Strategy
Open Access
- 1 January 1963
- journal article
- research article
- Published by SAGE Publications in Journal of Marketing
- Vol. 27 (1) , 5-14
- https://doi.org/10.1177/002224296302700102
Abstract
Both this article and the preceding one by Harry V. Roberts on “Bayesian Statistics in Marketing” (pp. 1–4) show that Bayesian statistics is a new and potentially powerful tool for systematically working with management judgments. The present article by Paul E. Green shows how this approach can be used in the area of pricing analysis.Keywords
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