Abstract:Information-Gap Decision Theory (IGDT), an approach to robust decision making under severe uncertainty, is considered in the context of a simple life cycle engineering example. IGDT offers a path to a decision in the class of problems where only a nominal estimate is available for some uncertain life cycle variable that affects performance, and where there is some unknown amount of discrepancy between that estimate and the variable's actual value. Instead of seeking maximized performance, the decision rule inh… Show more
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