Value of Information (VOI) in Risk Management Policies for Tracking and Testing Imported Cattle for BSE

Louis Anthony Cox ()
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Louis Anthony Cox: Cox Associates

Chapter Chapter 14 in Risk Analysis of Complex and Uncertain Systems, 2009, pp 325-350 from Springer

Abstract: Previous chapters have discussed and illustrated several methods for building quantitative risk assessment (QRA) models for complex and uncertain systems, including systems with dramatically nonlinear responses (such as the COPD risk model in Chapter 13, where sufficient exposure switches the entire system of interacting feedback-control processes from normal to diseased behavior). Techniques that have proved useful for QRA modeling of complex, uncertain, and potentially nonlinear systems include the following:Information-theory and data-mining algorithms (Chapters 6 and 7) for identifying potential causal relations (including nonlinear and multivariate ones with high-order interactions) in large multivariate data sets.

Keywords: Testing Cost; Market Impact; Quantitative Risk Assessment; Chronic Wasting Disease; Optimal Decision Rule (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isochp:978-0-387-89014-2_14

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DOI: 10.1007/978-0-387-89014-2_14

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