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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Coping with Uncertainty: Robust Solutions

Coping with Uncertainty: Robust Solutions

Ermoliev, Yuri
Makowski, Marek
Marti, Kurt

Paperback

Series: Lecture Notes in Economic and Mathematical Systems, Book 633

Business GeneralTechnology & EngineeringGeneral Mathematics

ISBN10: 3642037348
ISBN13: 9783642037344
Publisher: Springer
Published: Dec 7 2009
Pages: 277
Weight: 0.92
Height: 0.62 Width: 6.14 Depth: 9.21
Language: English

Support for addressing the on-going global changes needs solutions for new scientific problems which in turn require new concepts and tools. A key issue concerns a vast variety of irreducible uncertainties, including extreme events of high multidimensional consequences, e.g., the climate change. The dilemma is concerned with enormous costs versus massive uncertainties of extreme impacts. Traditional scientific approaches rely on real observations and experiments. Yet no sufficient observations exist for new problems, and pure experiments, and learning by doing may be expensive, dangerous, or impossible. In addition, the available historical observations are often contaminated by past actions, and policies. Thus, tools are presented for the explicit treatment of uncertainties using synthetic information composed of available hard data from historical observations, the results of possible experiments, and scientific facts, as well as soft data from experts' opinions, and scenarios.

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