Decision Tree Analysis | Expected Net Cost/Benefits | Multiple Years
This video introduces and uses Decision Tree to conduct Expected Net Cost (or Benefit) analysis. Vaccination for Covid-19 (or any Pandemic/Epidemic/Endemic) is considered. It is a Game Against Nature with some pandemic/Epidemic/Endemic is a possible predicament. Two years are considered for analysis. Three States of Nature are considered; Pandemic Hits and Pandemic Doesn't Hit.
It also includes numerical examples.
• My focus is on ‘Economic Interpretation’ so you understand ‘Economic Meaning’ which will enable you for ‘Economic Applications’ .
• At the end you’ll get the summary of key-points of the topic.
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Regards, DBM,
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