Decision Analysis for Public Policy

Catalog description

Course Description: Tools of decision analysis as applied to public policy. Decision trees, valuation of perfect and imperfect information using Bayes’ Rule, the use of scenario testing to assess robustness. Economics of decision-making under uncertainty and over time. Decision rules for cost-benefit analysis, valuation of non-monetary costs and benefits, and incorporation of distributional considerations. Utilization of case studies and strong focus on policy applications.