Google Trends and Google Insights for Search gives us the opportunity to gain information on a subject’s popularity. A paper by Google Inc. and Centers for Disease Control and Prevention (USA) have shown how search queries can be used to estimate the current level of influenza activity in the United States. (Ginsberg, Mohebbi, Patel, Brammer, […]
In public works and large scale construction or engineering projects – where uncertainty mostly concerns cost, a simplified scenario analysis is often used …
When there is no uncertainty the maximum return criterion can be used to rank strategies. With uncertainty we have to look for the strategy that maximizes the firms expected utility.
Budgeting involves personal judgments about future values of large number of variables that describes the nature of the business.