Risk Analysis 101 : Fooled by local robustness . . . again ! ∗

@inproceedings{Sniedovich2012RiskA1,
  title={Risk Analysis 101 : Fooled by local robustness . . . again ! ∗},
  author={Moshe Sniedovich},
  year={2012}
}
It is remarkable to what length some risk analysts would go to argue for the use of info-gap’s robustness model (circa 2000) as a tool for decision-making under severe uncertainty. This is remarkable because this model is a re-invented version of a model of local robustness known universally as the Radius of Stability model (circa 1960), which in turn is a simple instance of Wald’s famous Maximin model (circa 1940). And to top it all off, this model is . . . utterly unsuitable for the… CONTINUE READING