An Approach to Robust Decision Making under Severe Uncertainty in Life-Cycle Design

@inproceedings{Duncan2006AnAT,
  title={An Approach to Robust Decision Making under Severe Uncertainty in Life-Cycle Design},
  author={Scott J. Duncan and Bert Bras and Christiaan J. J. Paredis},
  year={2006}
}
Information-Gap Decision Theory (IGDT), an approach to robust decision making under severe uncertainty, is newly considered in the context of a simple life cycle engineering example. IGDT offers a path to a decision in the class of problems where a nominal estimate of an uncertain life cycle parameter is available, but the amount of the deviation of that estimate from the actual value, as well as the implications of that deviation on performance, are not known. The decision rule inherent in… CONTINUE READING

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