Defining Risk Limits, Marginal Value, and Trade-Offs in Health Security Decisions

Gilberto Montibeller
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Gilberto Montibeller: Loughborough University

Chapter Chapter 6 in Decision Making for Enhanced Health Security, 2022, pp 177-228 from Springer

Abstract: Abstract Judgments are always required in conditions of high uncertainty and in decisions with conflicting objectives. In this chapter we discuss three types of judgments that are required in health security decisions: defining risk limits for levels of impact, establishing marginal value over relevant consequences, and determining trade-offs among conflicting objectives. We emphasize here the importance of adopting clear and adequate protocols for how these judgments should be made and debiased, protocols that are presented in this chapter. Reliable and debiased judgements by decision makers and experts, which are also sound and thoughtful, prove crucial for high-quality decision making.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isochp:978-3-030-98132-7_6

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DOI: 10.1007/978-3-030-98132-7_6

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