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The Rationale

Policy makers are faced on daily basis with different policy choices and objectives that, more often than not, are subject to inherent conflicts, implying underlying trade-offs that need to be taken into account. For example, if a policymaker wishes to construct a road, he has to consider a number of factors amongst others, the cost of the investment, its socio-economic return in terms of social cohesion and economic trade, environmental aspects, safety considerations and so on. How can a policymaker be certain that he has calibrated these different elements in a balanced way?

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