B. L. Lyon’s scientific contributions

Methods from formal decision theory provide means of addressing environmental health risk management problems. In this report, we discuss the decision theory concept of the ``value of perfect information.`` We illustrate its application to the quantification of upper bounds on data worth, as well as its use as a means of exploring the sensitivity of a decision to uncertainty. We also discuss potential applications of these methods to the types of decisions required under the Comprehensive Environmental Response, Compensation and Liabilities Act (CERCLA) when considering remedial alternatives.