Uncertainty and risk

Nicolas Treich

Chapter 11 in Teaching Benefit-Cost Analysis, 2018, pp 133-139 from Edward Elgar Publishing

Abstract: Uncertainty is prevalent in policymaking, and is thus an important dimension of policy evaluation and BCA. This chapter introduces the methods and practices to take uncertainty into account in BCA. The pedagogical approach consists in building on the contrast between two related concepts, such as risk versus uncertainty, static versus sequential analysis or ex ante versus ex post BCA.

Keywords: Economics and Finance; Teaching Methods (search for similar items in EconPapers)
Date: 2018
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Working Paper: Uncertainty and risk (2018)
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