Estimation Uncertainty and Optimal Advertising Decisions
构建了一个基于实证基础的规范模型，研究广告主等决策者依赖估计关系进行资源分配时，忽略估计不确定性会导致次优决策。
In this paper we develop a normative model that is built on an empirically relevant foundation. We observe that decision makers, among them advertisers, rely on estimated relationships in reaching resource allocation decisions, and we investigate the normative implications of this process. In particular, we explore the effects of uncertainty stemming from the use of sample estimates of population parameters. In general, we find that ignoring this estimation-related uncertainty leads to suboptimal decisions.