The art and science of modeling decision-making under severe uncertainty

• Autorzy: Sniedovich M.
• Języki publikacji: EN

Abstrakty

EN

For obvious reasons, models for decision-making under severe uncertainty are austere. Simply put, there is precious little to work with under these conditions. This fact highlights the great importance of utilizing in such cases the ingredients of the mathematical model to the fullest extent, which in turn brings under the spotlight the art of mathematical modeling. In this discussion we examine some of the subtle considerations that are called for in the mathematical modeling of decision-making under severe uncertainty in general, and worst-case analysis in particular. As a case study we discuss the lessons learnt on this front from the Info-Gap experience.

Słowa kluczowe

EN

mathematical modeling; severe uncertainty; maximin; worst-case analysis; robust optimization; info-gap

• Wydawca: AGH University of Science and Technology Press
• Czasopismo: Decision Making in Manufacturing and Services
• Rocznik: 2007
• Tom: Vol. 1, no. 1-2
• Strony: 111--136
• Opis fizyczny: Bibliogr. 19 poz., rys., wykr., tab.

Twórcy

autor

Sniedovich M.

• Department of Mathematics and Statistics, The University of Melbourne, Australia

Bibliografia

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