Browsing by Author "Summers, John O."

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    Heuristics and Biases in the Intuitive Projection of Retail Sales
    (1987-08) Cox, Anthony D.; Summers, John O.
    Retail merchandise buyers are shown to exhibit a nonregressive bias when making sales projections. A quantitative model based on the principle of statistical regression is found to outperform the judgmental sales predictions of experienced buyers. Implications for the appropriate roles of intuitive and model-based decision making in retail merchandise buying are discussed.