Electronic Resource
Oxford, UK
:
Blackwell Publishing Ltd
Decision sciences
8 (1977), S. 0
ISSN:
1540-5915
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
This paper explores the effect which the choice of critical values in sequential decisions has on the overall distribution of payoffs. It demonstrates in the context of a simple two-stage sequential decision model that the mean and variance of the overall distribution can be highly sensitive to the choice of critical values. Finally, it considers the problem of selecting optimal critical values when a standard meanvariance approach is used.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/j.1540-5915.1977.tb01091.x
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