ENGLISH

Coping with Uncertainty: Robust Solutions

Book information

Publisher
Springer-Verlag Berlin Heidelberg
Year
2010
ISBN
978-3-642-03734-4, 978-3-642-03735-1
DOI
10.1007/978-3-642-03735-1
Language
english
Format
PDF
Filesize
4 MB (4186456 bytes)
Series
Lecture Notes in Economics and Mathematical Systems 633
Edition
1
Pages
277\273
Orientation
yes
Scanned
yes
Time added
2013-08-01 04:00:00

Description

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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