Two types of statistical uncertainty were considered in this study. The Bayesian inference model is applied to a Bayesian decision model, where the decision rule is the maximization of expected net monetary benefits. A case study of determining the optimal size of local flood protection for Woonsocket, Rhode Island, was considered, using realistic flood damage and cost functions.
|Original language||English (US)|
|Journal||MIT Dep Civ Eng, Ralph M. Parsons Lab Water Resour Hdyn1r Rep|
|State||Published - Jan 1 1974|
All Science Journal Classification (ASJC) codes