Decision Analysis and Risk Management Decision Making: Issues and Methods |
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| Authors: | Vincent T. Covello |
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| Affiliation: | National Science Foundation, 1800 G St., NW, Washington, D.C. 20550. Acting Guest-Editor for section on Decision Analysis. |
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| Abstract: | This paper provides an overview of decision analysis and its use in risk management decision making. The paper discusses the distinctive characteristics of decision analysis and compares these characteristics with those of its principal alternative—cost–benefit analysis. The paper also discusses each of the steps in a decision analysis and the strengths and limitations of the method. |
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| Keywords: | Decision analysis risk cost-benefit analysis health and safety |
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