One-shot decision approach and its application to duopoly market
by Peijun Guo
International Journal of Information and Decision Sciences (IJIDS), Vol. 2, No. 3, 2010

Abstract: In this paper, one-shot decision framework is initially proposed. The procedure for one-shot decision involves two steps. The first step is to identify which state of nature should be taken into account for each alternative amongst all states of nature. The states of nature chosen are called focus points. The second step is to evaluate alternatives based on focus points. As an application a newly emerging duopoly market with a short life cycle is analysed. The analysis results show that the proposed decision models can explain the behaviour of firms in such a market well. Hence, the proposed decision framework may provide appropriate approaches for analysing one-shot decision problems, which are extensively encountered in business and economics.

Online publication date: Wed, 02-Jun-2010

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