Citation:
J. Li, G.J. Davies, G. Kendall, E. Soane, R. Bai, S.A. Rocks, S.J.T. Pollard, Evidence and belief in regulatory decisions - Incorporating expected utility into decision modelling, Expert Systems with Applications, Volume 39, Issue 10, August 2012, Pages 8604–8610.
Abstract:
Recent changes in the assessment and management of risks has had the effect that
greater importance has been placed on relationships between individuals and
within groups to inform decision making. In this paper, we provide the
theoretical underpinning for an expected utility approach to decision-making.
The approach, which is presented using established evidence support logic
(TESLA™), integrating the expected utilities in the forming of group decisions.
The rationale and basis are described and illustrated through a hypothetical
decision context of options for the disposal of animal carcasses that accumulate
during disease outbreaks. The approach forms the basis for exploring the
richness of risk-based decisions, and representing individual beliefs about the
sufficiency of evidence they may advance in support of hypothese