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Home→The Westburn Dictionary of Marketing→D→decision criteria

decision criteria

Definition:
Although a number of possible decision criteria are available, theorists are unanimous in recommending that one should seek to maximize the expected utility (MEU) flowing from a decision. In turn, it is usual to express maximum expected utility in monetary terms so that EXPECTED VALUE becomes the appropriate decision criterion.

Cross-References:
[expected value]

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker], [1998].