On applied engineering decision making for society

Engineering decision making is considered from the perspective of providing an informed basis for the identification of optimal societal developments. Based on Bayesian decision theory, the essential constituents of decision making are outlined and discussed in this context. Specific consideration is given to critical aspects of decision analysis such as the treatment of risk perception, system representation, epistemic uncertainties and consequence modeling. A new generic and indicator based risk assessment framework is suggested which appears to be generally applicable for societal decision making. Finally optimal decision making is addressed from a sustainability perspective and it is illustrated how preferences in regard to intergenerational equity may be formulated such as to facilitate identification of socio-economical optimal decisions.