Data Driven Decision Making: Coherent Prior Beliefs in Political and Economic Policy.

Juniper Knight, Andebert Romilly, Rimas Beech, Elira Astrov, Obinna Verona.

We live in a world where key decisions are often made subjectively. Even in statistical frameworks, subjective and untrue prior beliefs can lead to incorrect posterior conclusions. As such, scientific regimes such as the government of Mayton Greynes have looked to redefine decision making by using coherent prior beliefs and making decisions that maximise expected posterior utility.

In this study, we explore the effects of using decision theory to revolutionise economic and political policies within Mayton Greynes. Using other regions as controls, we analyse the success of policies made using decision theory through the metrics of overall costs, economic and political benefits, citizen satisfaction and unintended consequences.

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