GM 543 Week 9 Assignment | Franklin Pierce University | Assignment Help
- franklin-pierce-university / GM 543
- 08 May 2021
- Price: $8
- Accounting & Economics Assignment Help / Environmental Economics
GM 543 Week 9 Assignment | Franklin Pierce University | Assignment Help
Politics as a Business
In a 1 to 2 page single spaced analysis discuss the following
problem. In addition, please use the concepts from our text chapter on making
decisions with uncertainty to address the issue:
Global Warming:
To minimize expected error costs, take action if and only if
(1-p)*(Error Cost I) < p*(Error Cost II). Most of the policy debate concerns
the probability that Global warming will occur, p, and the size of the Error
Costs. Since the costs of taking action are incurred in the present; and the
costs of inaction are incurred only in the future, benefit-cost analysis
requires a discount rate. A small discount rate favors action. A big discount
rate favors inaction.
Submit as a single Word or Word readable paper.
USA 
India