Arbitrating a dispute: a decision analytic approach

Article Abstract:

Most collective decision-making and bargaining environments may be detailed via a set of the possible joint evaluations of any conceivable settlements. Attention must then be placed on the subset under which no feasible joint gains are made. The Pareto-optimal frontier subset can be used to settle the dispute when no joint gains are feasible. The article presents an arbitration approach to deal with the issue. The recommended approach, based on decision-analysis, is the result of LaValle's allocation-function technique, and it is also derived from work advanced by both Winkler and Eliashberg.

Management science, Decision-making, Decision making, Planning, Dispute resolution (Law), Commercial arbitration agreements

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The innovation diffusion process in a heterogeneous population: a micromodeling approach

Article Abstract:

A model of the innovation diffusion process in a heterogeneous population is presented. Micromodeling, which is flexible in accommodating different diffusion patterns, was used in the development of the model. Micromodeling it allows individual-level variables affecting adoption timing of a product to be measured through a consumer survey before product introduction. The diffusion patterns generated by the model can be identical to the patterns of some traditional aggregate diffusion models. The model can be used for market segmentation in terms of consumers' anticipated adoption of products.

Usage, Mathematical models, Marketing, Marketing models, Diffusion of innovations

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A measurement error approach for modeling consumer risk preference

Article Abstract:

An analysis of measurement error introduced by survey questions assessing consumer risk preference demonstrates procedures for handling the risk error associated with the Von Neumann - Morgenstern utility theory. Among the error - handling procedures developed is one that assigns probability distributions to consumer utility and estimators thereof, based upon uncertainty in risk parameters and uncertainties in utility and expected utility. The research conducted applies to both preference indifference surveys and questioning techniques that reveal preference.

Research, Risk (Economics), Marketing research, Consumer preferences, Market research, Utility theory, Utility functions

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