Division of the Humanities and Social Sciences California Institute of Technology Pasadena, California 91125 Policy Reversals in Risk Management: the Effect of Refined Analyses
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چکیده
Reversals of policy recommendations occur in risk management when the social decision maker aggregates individuals’ subjective utilities for the outcomes of a risky policy measure. The level of detail with which these outcomes are described can significantly affect the resulting policy recommendation. The choice of the level of detail on which we conduct an analysis therefore amounts to an implicit value judgement. Moreover, the power to fix the level of the analysis implies partial control over policy recommendations. We propose an alternative approach to decision–theoretically sound risk management.
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Division of the Humanities and Social Sciences, California Institute of Technology, Pasadena, CA 91125; Faculty of Business and Economics, The University of Melbourne, Carlton, VIC 3010, Australia; Florey Institute of Neuroscience and Mental Health, The University of Melbourne, Parkville, VIC 3052, Australia; and Computation and Neural Systems, California Institute of Technology, Pasadena, CA 9...
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متن کاملDivision of the Humanities and Social Sciences California Institute of Technology Pasadena, California 91125 on Incentives and Updating in Agent Based Models
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تاریخ انتشار 2001