Volume : II, Issue : XII, December - 2013

Uncertainty modeling : A case study in cost–benefit analysis

Tazid Ali, Rubab F. Nomani

Abstract :

Certainty is generally elusive in science. Models used to replicate real life problems are imperfect. Input parameters are usually tainted with uncertainty. So decisions about the future must be made in the absence of certainty. Ignoring uncertainty in scientific calculations often leads to underestimate or overestimation of results. Hence proper modeling of uncertainty is an important aspect in science. In this paper we have attempted to study the effect of uncertainty in cost-benefit analysis by modeling the input parameters as uncertain quantities. We have examined uncertainty propagation in a hypothetical case study of smoking ban.

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Article: Download PDF   DOI : 10.36106/ijsr  

Cite This Article:

Tazid Ali, Rubab F. Nomani Uncertainty modeling : A case study in cost-benefit analysis International Journal of Scientific Research, Vol.II, Issue.XII December 2013

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