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This paper develops a broad theme about policy choice under ambiguity through study of a particular decision criterion. The broad theme is that, where feasible, choice between a status quo policy and an innovation is better framed as selection of a treatment allocation than as a binary decision....
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"Research on collective provision of private goods has focused on distributional considerations. This paper studies a class of problems of decision under uncertainty in which the argument for collective choice emerges from the mathematics of aggregating individual payoffs. Consider decision...
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This paper uses Wald's concept of the risk of a statistical decision function to address the question: How should sample data on treatment response be used to guide treatment choices in a heterogeneous population? Statistical treatment rules (STRs) are statistical decision functions that map...
Persistent link: https://www.econbiz.de/10012471689
This paper extends my research applying statistical decision theory to treatment choice with sample data, using maximum regret to evaluate the performance of treatment rules. The specific new contribution is to study as-if optimization using estimates of illness probabilities in clinical choice...
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