Coping with Nasty Surprises: Improving Risk Management in the Public Sector Using Simplified Bayesian Methods
Bayesian methods are particularly useful to informing decisions when information is sparse and ambiguous, but decisions involving risks must still be made in a timely manner. Given the utility of these approaches to public policy, this article considers the case for refreshing the general practice of risk management in governance by using a simplified Bayesian approach based on using raw data expressed as �natural frequencies�. This simplified Bayesian approach, which benefits from the...[Show more]
|Collections||ANU Research Publications|
|Source:||Asia & The Pacific Policy Studies|
|Access Rights:||Open Access|
|01_Matthews_Coping_with_Nasty_Surprises%3A_2015.pdf||743.52 kB||Adobe PDF|
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