Severe uncertainty and info-gap decision theory

New approach to the decision analysis in conditions of uncertainty – Info-Gap Theory

The paper presents a new method of decision-making in conditions of severe uncertainty in application to a problem. The method has not been introduced in Poland yet and is still in the early development stage in Europe. Because the method is difficult to understand it was illustrated by the example of its application to evaluation of the project duration time. The paper also presents a proposal...

A practical approach to open-pit mine planning under price uncertainty using information gap decision theory

In the context of open-pit mine planning, uncertainties including commodity price would significantly affect the technical and financial aspects of mining projects. A mine planning that takes place regardless of the uncertainty in price just develops an optimized plan at the starting time of the mining operation. Given the price change over the life of mine, which is quite certain, optimality o...

Including severe uncertainty into environmentally benign life cycle design using information gap-decision theory

Applying Information-Gap Decision Theory to a Design Problem having Severe Uncertainty

Often in the early stages of the engineering design process, a decision maker lacks the information needed to represent uncertainty in the input parameters of a performance model. In one particular form of severely deficient information, a nominal estimate is available for an input parameter, but the amount of discrepancy between that estimate and the parameter’s true value, as well as the impl...

Actor coordination using info-gap decision theory in wireless sensor and actor networks

Mobile, unmanned, power and resource-rich devices, called actors, deployed within a Wireless Sensor Network (WSN) application area, enable faster response times to events. Due to cost constraints, only a few actors can be placed within a WSN application area. Determining which actor or set of actors should respond to an event is important, because the correct decision will increase the event re...