Dr. Rachel Kennedy, Ph.D. – Associate Professor, Ehrenberg Bass Institute
Comparing budgets from competing methods for a variety of categories revealed that different approaches led to significantly different budgets. The key insights from this study are provided.
- Not all budgeting approaches are equal. Different budget approaches give different answers.
- “Be evidence-based in selecting approaches to use.”
- Combine key approaches. The authors recommend combining heuristics with algorithmic approaches, and considering both internally- and externally-focused perspectives.
See all 5 Cups articles.