From the case study, Case 1.3, compare and contrast the benefits of the influence diagram and decision tree displayed in Figure C1.3. Explain why these two problems representations are good examples of descriptive and normative decision theory.The influence diagram in C1.3. shows how policy choices and uncertain events are likely to affect the achievement of policy objectives whereas the decision tree displays the monetary value of those policy objectives (Dunn, 2012). The two problem representations are both useful tools for structuring policy problems, and are good examples of descriptive and normative decision theories because they identify issues that are necessary for an informed decision-making such as time travel, injuries and fatalities, they also allow the decision making agent to observe behaviors under some constant rules. Descriptive decision theories may be tested against observations obtained through monitoring and forecasting.
Refer to your first discussion’s answer and analyze the differences between monitoring and evaluation in policy analysis. Provide at least one example to support your answer.
Between monitoring and evaluation, one can find a variety of differences. They are two states of analysis in terms of the progress made in relation to the goals of a policy objectives. These two states of analysis differ in their manner of approach. Monitoring is the systematic analysis occasionally made of information to identify changes over a period. On the other hand, evaluation is the analysis of the effectiveness of the policy-analysis methods toward solving a particular problem For example, the use of influence diagram and the decision tree in dealing with structuring problems of energy policy and international security