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Key Steps in Developing Decision-Quality Analysis

Key Steps in Developing Decision-Quality Analysis

This piece was originally published in the April 2016 issue of ei, the magazine of the electroindustry. By Donald R. Leavens, PhD, Vice President and Chief Economist, NEMA/BIS Economists famously rely on an assumption of perfect information when theorizing how economic agents will react to exogenous shocks. In a world of perfect information, equilibrium is restored in all markets with no loss of…

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