Decision Making in Industrial Marketing

1960 ◽  
Vol 24 (3) ◽  
pp. 21 ◽  
Author(s):  
Werner Z. Hirsch
1985 ◽  
Vol 19 (7) ◽  
pp. 56-69 ◽  
Author(s):  
David Smith ◽  
Rob Taylor

1960 ◽  
Vol 24 (3) ◽  
pp. 21-27 ◽  
Author(s):  
Werner Z. Hirsch

Author(s):  
Aimao Zhang ◽  
Han Reichgelt

A transaction governance structures (TGS) is a structure that mediates exchanges of goods or services between different agents or production stages (Williamson, 1979, 1981). According to transaction cost economics (TCE), a selection of TGS for the trade of a particular product depends on the characteristics of the transaction, such as asset specificity, uncertainty, and frequency. This article argues that TCE alone is not sufficient to explain the selection of a TGS. Product complexity also plays an important role in explaining why a particular TGS is selected for a particular product. The construct of product complexity originated in the field of industrial marketing and is an important factor in the study of purchasing behaviors of buyers, decision-making processes of suppliers, and dynamic relations between buyers and suppliers. This study integrates industrial marketing with TCE and examines the impact of product complexity on TGS in the context of banking.


2018 ◽  
Vol 51 (1-2) ◽  
pp. 18
Author(s):  
Vedran Stanetić

Analyzing the theory of games it can be noticed that the moves and strategy of the players are not sufficiently based on the relevant information. Most often, the only information that game strategy methodologists advocate is rationality, which certainly does not have to be the case in all games. In addition, the greater practical representation of game theory is avoided by the numerous assumptions and limitations set by the particular model of a particular game, and whose practical foundation does not always have to be realistic. An interdisciplinary combination of international marketing research and game theory would create a new quality for one and the other discipline. However, the biggest benefit would be for business or marketing decision makers, especially in industrial marketing. The aim of the paper is to present a new model that, in conditions of globalized business, will provide information support from the international market for business decision making using the theory of games. The proposed model is in the form of an information system for international marketing research in support of business decision-making. The first part of the paper is devoted to the analysis of game theory, in particular the analysis of assumptions and limitations for its greater practical application. A model that would partially overcome the described problems is proposed in the second part of the paper. The methodology used in the paper is also characteristic of marketing research and game theory.


2018 ◽  
Vol 41 ◽  
Author(s):  
Patrick Simen ◽  
Fuat Balcı

AbstractRahnev & Denison (R&D) argue against normative theories and in favor of a more descriptive “standard observer model” of perceptual decision making. We agree with the authors in many respects, but we argue that optimality (specifically, reward-rate maximization) has proved demonstrably useful as a hypothesis, contrary to the authors’ claims.


2018 ◽  
Vol 41 ◽  
Author(s):  
David Danks

AbstractThe target article uses a mathematical framework derived from Bayesian decision making to demonstrate suboptimal decision making but then attributes psychological reality to the framework components. Rahnev & Denison's (R&D) positive proposal thus risks ignoring plausible psychological theories that could implement complex perceptual decision making. We must be careful not to slide from success with an analytical tool to the reality of the tool components.


2018 ◽  
Vol 41 ◽  
Author(s):  
Kevin Arceneaux

AbstractIntuitions guide decision-making, and looking to the evolutionary history of humans illuminates why some behavioral responses are more intuitive than others. Yet a place remains for cognitive processes to second-guess intuitive responses – that is, to be reflective – and individual differences abound in automatic, intuitive processing as well.


2014 ◽  
Vol 38 (01) ◽  
pp. 46
Author(s):  
David R. Shanks ◽  
Ben R. Newell

2014 ◽  
Vol 38 (01) ◽  
pp. 48
Author(s):  
David R. Shanks ◽  
Ben R. Newell

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