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Communication Market Modelsunder uncertainty
Leading to better decision
 
Market Example
•The Advertising Industry is an enormouscommunications market•They attempt to predict, influence, inform the buyingdecisions of their target market•They bet that dollars spent on Advertising competingwith others for the same attention will result in higher sales•For commodities multiple channels and manyimpressions are needed to persuade the buyer •The advertisers are making decisions under uncertainty
 
Assertions
•Corporations require improved decision making under uncertainty•Decision making requires effective communications•For uncertainty wisdom of crowds may have benefits•Communications markets may provide a mechanism for facilitating,increasing, and improving the frequency and quality of the communications•Communication markets of various types are needed to address the rangeof decisions that corporations make•Communications within the firm is the essence of the organizationallearning and help define its culture, capacity, potential, and realized value.•Capturing the communications and fostering an economic dynamic providesthe basis for measurement and therefore quality improvement programs•Communication markets might help organizations learn how to learn
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