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A Bayesian decision rule for remediation actions at toxic waste sites

Author

Listed:
  • Chen, Ling
  • Shao, Jun

Abstract

The US Environmental Protection Agency (EPA) recommends the use of an upper confidence limit in making a decision of whether a possibly polluted environment needs clean-up. This decision rule, however, is frequently too conservative and does not take into account the costs and/or benefits from making a correct or a wrong decision. In this paper we propose an asymmetric loss function and a Bayesian decision rule for remediation actions. The new loss function accounts for both false-positive and false-negative errors possibly involved in a decision, and accommodates the needs of both the EPA and other parties involved.

Suggested Citation

  • Chen, Ling & Shao, Jun, 2000. "A Bayesian decision rule for remediation actions at toxic waste sites," Statistics & Probability Letters, Elsevier, vol. 50(1), pages 83-88, October.
    • Handle: RePEc:eee:stapro:v:50:y:2000:i:1:p:83-88
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