Blaskovich, Frank, "Oil Policy Regret Analysis With System Dynamics Models", 2012 July 22-2012 July 26
ua435
A simple system dynamics model was used to explore the potential benefits of using regret analysis to develop sensible government energy policies. Regret analysis evaluates the relative impact of unexpected futures to design policies that reduce the risk of losses rather than trying to optimize benefits. It is very useful when it is impossible to assess or agree on the probabilities of future events and, especially, those events that can have a large impact on the system behavior.