Incorporating Benefit-Cost Analysis into Other Decision-Making Frameworks

At the Society for Benefit-Cost Analysis Conference, Rob Lempert showed how some new approaches can help reduce the tension between the benefits of providing useful, scientifically-based information to decision makers and the costs of aggregating uncertainty and differing values into single best-estimates. Benefit cost analysis (BCA) aims to help people make better decisions. But BCA's aim of aggregating all attributes of concern to decision makers into a single, best-estimate metric can conflict with the differing world views and values that may be an inherent characteristics of many climate-related decisions.
Source: RAND Announcements - Category: Health Management Authors: Source Type: news