Push back design as a complex task, is one of the major steps in the open pit mines planning. Push backs can be generated by varying economic factors such as commodity price, mining cost, processing cost, etc. Another important issue in generating push backs is grade uncertainty, which can cause the problem be more complex. Conventional methods of push back design ignore grade uncertainty. To o...

Uncertainty is present in different guises in many settings, in particular in environments with strategic interactions. However, most game-theoretic models assume that players can accurately observe interactions and their own costs. In this paper we quantify the effect on social costs of two different types of uncertainty: adversarial perturbations of small magnitude to costs (effect called the...

The standard real–options model predicts that increased uncertainty discourages investment. When projects are large and take time to build, however, that prediction can be reversed. We investigate the investment/uncertainty relationship empirically using historical data on opening dates of new U.S. copper mines — large, irreversible projects with substantial construction lags. Both the timing o...

We consider a robust version of the classic problem of optimal monopoly pricing with incomplete information. In the robust version, the seller faces model uncertainty and only knows that the true demand distribution is in the neighborhood of a given model distribution. We characterize the pricing policies under two distinct decision criteria with multiple priors: (i) maximin utility and (ii) mi...