IDEAS home Printed from https://ideas.repec.org/a/inm/ormnsc/v14y1967i4pb250-b252.html
   My bibliography  Save this article

Critique of: "Ranking Procedures and Subjective Probability Distributions"

Author

Listed:
  • Paul E. Green

    (University of Pennsylvania)

Abstract

Lee Smith's paper (Smith, L. H. 1967. Ranking procedures and subjective probability distributions. Management Sci. 14 (4, December) B236-B249.) is interesting as much for the questions he raises as for the answer he proposes. Those of us who have tried to elicit subjective probability distributions in the context of corporate systems can sympathize with his position that no "objective" way has yet been proposed. It is no wonder that the procedures which he cites as precursors to his proposal are ad hoc and, shall we say, "flexible." The main issue, however, is whether the procedure advocated in his paper overcomes the limitations of previous devices. Related questions concern: (a) the compatability of probabilistic thinking with the culture of line management; and (b) the accuracy of the elicited judgments, using the "best" of methods.

Suggested Citation

  • Paul E. Green, 1967. "Critique of: "Ranking Procedures and Subjective Probability Distributions"," Management Science, INFORMS, vol. 14(4), pages 250-252, December.
    • Handle: RePEc:inm:ormnsc:v:14:y:1967:i:4:p:b250-b252
    DOI: 10.1287/mnsc.14.4.B250
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/mnsc.14.4.B250
    Download Restriction: no
    File URL: https://libkey.io/10.1287/mnsc.14.4.B250?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Cassidy, P.A. & Rodgers, J.L. & McCarthy, W.O., 1970. "A Simulation Approach to Risk Assessment in Investment Analysis," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 38(01), pages 1-22, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:ormnsc:v:14:y:1967:i:4:p:b250-b252. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.