Browsing by Subject "retail merchandise buying"

Now showing 1 - 1 of 1
  • Thumbnail Image
    Item
    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.