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Full-Text Articles in Physical Sciences and Mathematics
Radical Impact Of Change In Actions And Confidence Index On Reverse Decision Making An Application Based Study, Swatee Trimbak Paithankar
Radical Impact Of Change In Actions And Confidence Index On Reverse Decision Making An Application Based Study, Swatee Trimbak Paithankar
Engineering Management & Systems Engineering Theses & Dissertations
While making decisions under uncertainty, people are often unaware of the logical approach to form the decision process. It is assumed that collecting details, analyzing and evaluating data is enough to make 'proper' decisions. However, past research in the decision making arena has significantly validated that there exists a class of decision problems which is complex, ill-structured and not defined to the level where decision makers can draw logical conclusions based on existing traditional decision approaches. RDM (reverse decision making), one of the novel approaches of decision making under conditions of uncertainty, has shown potential towards addressing some of these …
Why De Minimis?, Matthew D. Adler
Why De Minimis?, Matthew D. Adler
Faculty Scholarship
De minimis cutoffs are a familiar feature of risk regulation. This includes the quantitative individual risk thresholds for fatality risks employed in many contexts by EPA, FDA, and other agencies, such as the 1-in-1 million lifetime cancer risk cutoff; extreme event cutoffs for addressing natural hazards, such as the 100 - year - flood or 475 - year - earthquake; de minimis failure probabilities for built structures; the exclusion of low - probability causal models; and other policymaking criteria. All these tests have a common structure, as I show in the Article. A de minimis test, broadly defined, tells the …