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Modification of Wald and Savage Decision Criteria for Monopoly Market

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  • Lilian Golban

    (Academy of Economic Studies of Moldova, Republic of Moldova)

Abstract

In this study are defined two decision-making models for analysis and the solution of manufacturing problems in the case of monopolistic markets, considering that consumer behavior is uncertain and demand cannot be derived beforehand, and with knowledge of only some possible situations arise concerning demand.

Suggested Citation

  • Lilian Golban, 2019. "Modification of Wald and Savage Decision Criteria for Monopoly Market," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 338-344.
    • Handle: RePEc:ddj:fserec:y:2019:p:338-344
    DOI: 10.35219/rce2067053239
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    References listed on IDEAS

    as
    1. Dana, James D, Jr, 2001. "Monopoly Price Dispersion under Demand Uncertainty," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 42(3), pages 649-670, August.
    2. E. Zabel, 1970. "Monopoly and Uncertainty," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 37(2), pages 205-219.
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