Bayesian Statistics for Strategic Decision-Making

13 Pages Posted: 8 Nov 2014

Date Written: August 28, 2013

Abstract

Understanding how decisions are made plays an important role in strategic management. Exploration is conducted as to whether the classical approach or the Bayesian approach is more frequently used in the strategic management decision-making literature. A sample of 51 decision-related articles is collected from the Strategic Management Journal and provides for relatively alarming results. The Bayesian approach is rarely mentioned and almost never used. Upon review, the remaining portion examines decision-making in strategic management and places emphasis on increasing the use of the Bayesian approach as a complementary statistical tool bridging the gap between research and practice.

JEL Classification: J21, J23, C11

Suggested Citation

Bendickson, Josh, Bayesian Statistics for Strategic Decision-Making (August 28, 2013). Academy of Business Research Journal, Vol. III, September 2013, Available at SSRN: https://ssrn.com/abstract=2519699

Josh Bendickson (Contact Author)

East Carolina University ( email )

Greenville, NC 27858
United States

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