Abstract
Typically when an analysis of some combination of costs, benefits, and inherent risks of a set of alternatives is to be assessed, it is often decided that some effort in model development and associated data collection should be undertaken. Often the decision is made to go ahead with a sizeable modeling and data collection effort. In this paper I discuss the issues which affect that decision to use models in cost/benefit/risk analysis and discuss these issues with respect to on-going model development activity concerned with providing decision support for toxic waste decontamination/containment planning.
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References
Keen, P. F., and Scott-Morton, M. S., 1978, “Decision Support Systems: an Organizational Perspective,” Addison-Wesley, Reading, Mass.
Nickerson, R. C., and Boyd, D. W., 1980, The use and value of models in decision analysis, Operations Res., 28(1):139–155, January–February.
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© 1981 Springer Science+Business Media New York
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Nainis, W.S. (1981). Methods for Determining the Value of Model Development in Cost/Benefit/Risk Analysis. In: Haimes, Y.Y. (eds) Risk/Benefit Analysis in Water Resources Planning and Management. Springer, Boston, MA. https://doi.org/10.1007/978-1-4899-2168-0_11
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DOI: https://doi.org/10.1007/978-1-4899-2168-0_11
Publisher Name: Springer, Boston, MA
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