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Prof. Kevin J. Kircher@kevinjkircher.com |
To deal with this issue, modelers usually convert all the various objectives to a single performance metric. Almost always, that metric is money.
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Prof. Kevin J. Kircher
@kevinjkircher.com
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The conversion process involves assigning prices to the various non-monetary objectives. Creating 1 job is worth $X, avoiding 1 year of serious illness for 1 person is worth $Y, and so on. They usually value 1 human life at about $12 million.
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