Heuristics and Biases in the Intuitive Projection of Retail Sales
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Date
1987-08
Language
American English
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Abstract
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.
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Cite As
Cox, A. D., & Summers, J. O. (1987). Heuristics and biases in the intuitive projection of retail sales. Journal of Marketing Research, 290-297.
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Article