In real life, it is difficult to know for certain the probability of interceptin

Question

In real life, it is difficult to know for certain the probability of intercepting terrorists; and it's also difficult to measure all the benefits of tourism, since many are intangible. (The article mentions, for instance, that people who visit the United States are more likely to have a favorable view of the country after their visit than before.) Does this mean that there isn't a tradeoff? What are the implications of such uncertainties for policymakers? 2. Suppose you were in charge of designing the border security policies for airports, seaports, and roadways in the United States. How would you go about finding the optimal level of security, the optimal level of commercial trade and tourism, and the optimal amount of sensitivity training for customs and immigration officials?

Explanation / Answer

It may use the dummy variables to quantify the events. Formulate the objective function which is the sum of consumer and producer surplus,then maximize it using Lagrange method. You might use the concept of ordinal instead of cardinal.Every events will identified by scoring.Without quantitative method, you can use the pros and cons,and then pick up the best alternative with assumptions.

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