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HUGHES ECONOMICS analyses economic regions (cities, districts, countries) using the latest 106-sector models based on employment and population in the region. The most valuable activities within the region can be identified and the linkages to other activities explained for a full picture of total impacts for any activity or sector. Comparisons with adjacent regions can be made to evaluate any comparative advantages or disadvantages for the regional activity or sector in question. Event impacts within a region can also be derived from the 106-sector models to determine event cost/benefit calculations for sponsoring organisations.

Planning​​

Analysis showing the inputs required to complete a plant expansion, organise a regional event or similar project. Estimate the total impact of the activity or project on a given region.

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Outline how an activity or project will complement a region in terms of its societal, environmental or other impact. Such analysis, including economic impacts, may be required for a court or similar presentation.

Results​

Summarise the total impacts from the activity or project enabling decision-makers to quickly appreciate the costs and benefits of the activity or project in question for a given region.

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Detailed Economic Modelling 

Assessing Probabilities of Unique Events: Calibrating Qualitative Likelihood Judgments into a Probability Distribution.


Chinese Business Review, Volume 9 Number 9 (Serial number 87), Sept. 2010, pages 54 - 60.

ABSTRACT: Multifaceted events in an organizational environment usually need to be assigned probabilities as a prerequisite to analytical decision-making. If the decision situation is unique, a lack of relevant historical frequency data may preclude use of traditional probability models such as the normal, binomial etc. In this case, an individual decision maker (DM) or an informed group of persons can input into a procedure as outlined here to determine a probability distribution that leads to expected values of alternative actions or fair values of securities. The individual or group member must decide qualitatively on the extent to which one event is "more likely" than another where both events are ranked adjacent (i.e. closest to each other) in terms of likelihood. Even though the individual or group members may lack experience in orthodox probability assessment, these pairwise "more likely" judgments are not overly demanding for persons familiar with the possible outcomes in the situation under analysis.

Full paper and latest update available below:

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