A Bayesian approach to estimating benefi
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Hauke L. Kite-Powell; Andrew R. Solow
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Article
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2007
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John Wiley and Sons
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English
⚖ 359 KB
W e describe a Bayesian approach to estimating the economic benefits f r o m improved forecasts. The approach takes explicit account of how decision makers use forecast information, and can provide more reliable estimates of benefits than methods based on mitigated impacts. W e discuss some practica