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Monday, January 24, 2011
2:30 PM - 4:00 PM
CNLS Conference Room (TA-3, Bldg 1690)


Why Design and Planning is so Difficult, and What to Do About it

Yakov Ben-Haim
Yitzhak Moda'i Chair in Technology and Economics Technion - Israel Institute of Technology

Knowledged-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 which can be described by rational models. One central challenge in decision making is the severe uncertainty - deficient knowledge and imperfect understanding - which 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, satisficing, robustness and windfall.

Host: Francois Hemez, XTD-3: XTD PRIMARY PHYSICS,