Risk Analysis 101 — Robust-Optimization: the elephant in the robust-satisficing room

In 2001, info-gap decision theory re-invented the then 40-year old model of local robustness, known universally as radius of stability (circa 1960). Since then, this model of local robustness has been promoted by info-gap scholars as a reliable tool for the management of a severe uncertainty that is characterized by a vast (e.g. unbounded) uncertainty … Read more