School Seminars and Colloquia

A formal look at Info-Gap decision theory

ORSUM Seminar

by Associate Professor Moshe Sneidovich

Institution: Department of Mathematics and Statistics, The University of Melbourne
Date: Mon 21st May 2007
Time: 1:00 PM
Location: Room 213, Richard Berry Building

Abstract: Info-Gap is a (very) young theory for decision-making under severe uncertainty. It presents itself as new and claims to be radically
different from all current theories for decision-making under uncertainty.

Its claim to fame is that it offers a probability-free approach to uncertainty.

We show that, in actual fact, not only that Info-Gap's generic model is not new, it is a simple instance of no other than . . . the most
famous model in decision-making under severe uncertainty, namely
Wald's [1945] Maximin Model.

Furthermore, we show that Info-Gap is fundamentally flawed in that it does not deal with severe uncertainty, it simply and unceremoniously
ignores it.

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