Journal ArticleManagement Science · January 1, 1984
This investigation draws upon concepts from prospect theory and multiattribute utility theory in an examination of the multiattribute risky choice behavior of 128 managers. The questions of how managers edit multiatribute prospects and how editing relates ...
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Journal ArticleManagement Science · August 1981
This Note extends the work reported in Payne, Laughhunn, and Crum (Payne, J. W., D. J. Laughhunn, R. Crum. 1980. Translation of gambles and aspiration level effects in risky choice behavior. Management Sci. 26 1039--1060.) on the need to incorporate a targ ...
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Journal ArticleManagement Science · August 1981
This Note extends the work reported in Payne, Laughhunn, and Crum (Payne, J. W., D. J. Laughhunn, R. Crum. 1980. Translation of gambles and aspiration level effects in risky choice behavior. Management Sci. 26 1039–1060.) on the need to incorporat ...
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Journal ArticleManagement Science · January 1, 1980
A report is presented on the risk preferences for below target returns of 224 managers from the U. S. , Canada, and Europe. When only non-ruinous losses were involved, 71% of the managers were risk seeking for below target returns. The distribution of risk ...
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Journal ArticleManagement Science · January 1, 1980
Two recent models of risky decision-making have emphasized the importance of a target return or a reference point in determining preferences and choices among gambles. Target returns and reference points represent variations on the concept of an aspiration ...
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Journal ArticleDecision Sciences · January 1, 1973
The purpose of this paper is to discuss an application of queuing theory as an analytical framework for evaluating the adequacy of physician capacity in an outpatient clinic for medically indigent patients. Specific attention is given to the problems of pa ...
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Journal ArticleManagement Science · August 1971
In a recent article of this journal, Hanssmann [Hanssmann, Fred. 1968. Probability of survival as an investment criterion. Management Sci. 15(1, September) 33-48.] proposed probability of survival as an investment planning criterion. An earlier paper by Ro ...
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Journal ArticleEngineering Economist · January 1, 1971
Decision rules for the make-buy decision most often assume the form of single-item, incremental cost rules which, for application, require decisions to be made for each item in isolation from all others. While it has been recognized that such decision rule ...
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Journal ArticleManagement Science · January 1971
This paper investigates the potential reduction in decision-making effort in capital budgeting problems obtainable through the use of measures of risk in addition to variance. Specific measures of risk treated are Baumol's lower confidence limit and the ma ...
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Journal ArticleOperations Research · June 1970
The purpose of this paper is to present an algorithm for solving the quadratic binary programming problem. Although a problem with this structure may arise in many situations, it is particularly common in capital budgeting when a decision-maker is ...
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Journal ArticleJournal of the American Statistical Association · January 1, 1970
Most previous empirical demand analyses using time series data have ignored the possible demand effect due to temporal variation in the population’s demographic structure. Following an earlier study by Lippitt, this demand effect is denoted as a distributi ...
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