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Playing against Nature: Integrating Science and Economics to Mitigate Natural Hazards in an Uncertain World by Seth Seth Stein Stein, Jerome Jerome Stein Stein

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7How Much Is Enough?

“Systems analysis is a reasoned approach to highly complicated problems of choice in a context characterized by much uncertainty; it provides a way to deal with different values and judgments; it looks for alternative ways of doing a job; and it seeks, by estimating in quantitative terms where possible, to identify the most effective alternative … It is not physics, engineering, mathematics, economics, political science, statistics; yet it involves elements of all these disciplines. It is much more a frame of mind.”

Enthoven and Smith (1971)1

7.1    Rational Policy Making

Making natural hazards policy involves complicated choices intended to mitigate the effects of hazards that are often hard to assess. Ideally, this would ...

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