Expected Utility as a Policy Making Tool: An Environmental
Lara J. Wolfson, Joseph B. Kadane and Mitchell J. Small
Statistical decision theory can be a valuable tool when considering
the results of a statistical analysis for health policy decisions. In
this paper, we review briefly the history of decision theory in
statistics, and introduce methods for eliciting loss functions to be
used when two parties with possibly conflicting interests need to reach
a decision. We illustrate the methods with examples concerning
public exposure to potential health risks from environmental contamination.
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