Part II Value of Information and Portfolio Analysis for Nanomaterial Hazard Reclassification

• Published in: Multi-Criteria Decision Analysis pp. 169 - 183
• Main Authors: Linkov, Igor, Moberg, Emily, Trump, Benjamin D., Yatsalo, Boris, Keisler, Jeffrey M.
• Format: Book Chapter
• Language: English
• Published: CRC Press 2021
• Edition: 2
• Subjects: MCDA Methodology; TiO2 Np; Efficient Portfolio; Potential True Values; PROMETHEE; Silver Nanoparticles; Research Portfolio; Titanium Dioxide Nanoparticles; Hazard Score; Hazard Classification; MCDA Application; MCDA Method; High Pressure Carbon Monoxide; MCDA Tool; PROMETHEE Method; MCDA Model; Prioritization Efforts; Ag NPs; Research Prioritization; MWCNTs; Efficient Frontier; Triangular Distribution; TOPSIS; MCDA Framework; Ag Np
• ISBN: 9780367345334; 9780367544386; 0367345331; 0367544385
• DOI: 10.1201/9780429326448-15

Summary As we saw in the previous chapters, more research on the risks of nanomaterials is needed. But how can we decide which research efforts to prioritize? Some are cheap but might not yield information helpful to regulators, while others are more expensive but could transform our collective understanding of the material's utility and risk. In this chapter, we use Value of Information (VoI) and portfolio decision analysis (both of which are commonly used in financial and operations management) to prioritize risk research for multi-walled carbon nanotubes, nanoparticulate silver, and titanium dioxide. A modified version of the widely accepted control banding (CB) Nanotool hazard evaluation framework (which combines nano and bulk material properties to form a hazard score) was used to operate probabilistically with uncertain inputs.