Journal article

Exploring Risk Judgments in a Trade Dispute Using Bayesian Networks

Bonnie C Wintle, Ann Nicholson

Risk Analysis | WILEY | Published : 2014

Abstract

Bayesian networks (BNs) are graphical modeling tools that are generally recommended for exploring what-if scenarios, visualizing systems and problems, and for communication between stakeholders during decision making. In this article, we investigate their potential for exploring different perspectives in trade disputes. To do so, we draw on a specific case study that was arbitrated by the World Trade Organization (WTO): the Australia-New Zealand apples dispute. The dispute centered on disagreement about judgments contained within Australia's 2006 import risk analysis (IRA). We built a range of BNs of increasing complexity that modeled various approaches to undertaking IRAs, from the basic qu..

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University of Melbourne Researchers