You have to hand it to Richard North over at
EUReferendum, he comes up with some real pearls.
http://eureferendum.blogspot.com/2010/02/satisfactory-model-of-complete.htmlSome quotes:
The research investigated "the usefulness of imprecise
probability concepts for assessing and processing the large and diverse
uncertainty that needs to be considered in climate policy analysis.
Imprecise probabilities are constituted by entire sets of probability
measures."
...
And you will be pleased to learn that the theoretical
part consisted of an analysis of the decision theoretical as well as
evidential basis of imprecise probabilities in the light of climate
change. In the applied part, it investigated how the presence of
ambiguity, i.e., imprecise information, can alter the results of
model-based analyses of climate protection strategies and policy
instruments.
..."
"...It seems they had their work cut out. Fortunately,
the work – completed in May last year – only cost us €245,365.00 –
excluding VAT of course. Mind you, I could have provided "a satisfactory
model of complete ignorance," absolutely free of charge"