Knowledge-based decisions are made by engineers, scientists, economists, physicians and others. Indeed, people use reasoned thought to make decisions in all areas. Organizations and animals also make decisions in ways that can be described by rational models. One central challenge in decision making is the severe uncertainty -- deficient knowledge and imperfect understanding -- that arises in many areas. In this talk, we will use info-gap decision theory to explore the implications of severe uncertainty. Discussing examples from many disciplines, we study the ideas of optimizing, satiscing, robustness and windfall.
Yakov Ben-Haim, professor of mechanical engineering and the Yitzhak Moda'i Chair in Technology and Economics at the Technion-Israel Institute of Technology, initiated and developed info-gap decision theory for modeling and managing severe uncertainty. Info-gap theory is applied in engineering, biological conservation, economics, project management, climate change management, homeland security, medicine and other areas. Ben-Haim has been a visiting scholar at research institutions in Australia, Canada, England, France, Germany, Italy, Japan, Korea, Netherlands, Norway and the United States. He has lectured at universities, medical and technological research institutions, and central banks around the world and has published more than 80 articles and five books.
Further information: http://info-gap.com
This event is co-sponsored by:
Electrical and Computer Engineering
Dean of Engineering
James A. Baker III Institute for Public Policy
Ken Kennedy Institute for Information Technology
Rice University Networks Group