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Conference on Regulatory Decision Making Under Uncertainty

Location: University of Chicago Law School

Regulators often face deep uncertainty about the probable effects of different regulatory choices. For example, they must choose procedures for the storage of nuclear waste, set financial standards for banks, approve drugs, and decide on carbon dioxide emissions standards when they cannot predict the full set of probable consequences from their choices. Should regulators be averse to this uncertainty? And if so, what procedures should they use for making choices? The conference will bring together people from a wide variety of backgrounds including scientists, economists, decision-theorists, psychologists, and legal academics to address this topic.

The conference is sponsored by the Center for Robust Decision Making on Climate and Energy Policy (RDCEP), the Coase-Sandor Institute for Law and Economics, and the Energy Policy Institute at Chicago (EPIC). It is organized by David Weisbach and Alan Sanstad from Berkeley National Labs.