Professor Yakov Ben-Haim of Israel Institue of Technology is visiting UCD Energy Institute on Monday 14th November 2016 to give a seminar on “Info-Gap Theory: Concepts and Applications”.
Yakov Ben-Haim is a Professor in the Faculty of Mechanical Engineering and holds the Yitzhak Moda’i Chair in Technology and Economics at the Technion — Israel Institute of Technology. Yakov initiated and developed info-gap decision theory, which is a quantitative methodology for modeling and managing severe uncertainty that is applied in engineering analysis and design, reliability analysis, project management, economics, public policy, homeland security, biological conservation and medicine.
His talk will focus on Info-gap theory as a method for strategic planning, risk management, decision and design under uncertainty. The future may differ from the past, so our models may err in ways we cannot know. Our data may lack evidence about surprises: catastrophes or windfalls. Our scientific and technical understanding may be incomplete. These are info-gaps: the disparity between what we do know, and what we need to know, in order to make responsible decisions. Info-gap theory provides decision-support tools for modelling and managing severe uncertainty. He will begin by discussing the basic intuition behind info-gap uncertainty and its distinction from probability and then explore insights for decision-making that are obtained from info-gap analysis of robustness to uncertainty. Uncertainty may also entail favorable surprises so we also examine opportuneness from uncertainty. He will consider a simple illustrative example of system design for rapid recovery of functionality after adverse events and will conclude by briefly reviewing a wide range of applications of info-gap theory.