The American Market for Manufactured Exports from the Developing Countries

Abstract

sufficient depth or scope to be the primary text for a full quarter or semester course in quantitative methods and marketing. The book covers four major quantitative tools: Bayesian analysis, simulation, linear programming, and optimization using differential calculus. The first section of the book, on Bayesian decision theory, is presented in a fairly standard format. Given the level of the book, the authors do a good job of explaining the basic concepts of prior, posterior, and preposterior analysis. The next section, on simulation, is the weakest section. It provides an overview to simulation, with specific mention of queuing theory, Monte Carlo methods, and Markov analysis. The third section covers linear programming utilizing the graphical and simplex methods. The fourth, and probably the best, section deals with the use of differential calculus in optimization problems. The authors do an especially good job of explaining the mathematical procedures of differentiation and provide the reader with a logical explanation of the procedure. Thus, they overcome a difficulty encountered by many individuals in the application of calculus.