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Info-gap Decision Theory
Info-gap decision theory seeks to optimize robustness to failure under severe uncertainty,Yakov Ben-Haim, ''Information-Gap Theory: Decisions Under Severe Uncertainty,'' Academic Press, London, 2001.Yakov Ben-Haim, ''Info-Gap Theory: Decisions Under Severe Uncertainty,'' 2nd edition, Academic Press, London, 2006. in particular applying sensitivity analysis of the stability radius type to perturbations in the value of a given estimate of the parameter of interest. It has some connections with Wald's maximin model; some authors distinguish them, others consider them instances of the same principle. It has been developed bYakov Ben-Haim and has found many applications and described as a theory for decision-making under "''severe'' uncertainty". It has been criticized as unsuited for this purpose, and alternatives proposed, including such classical approaches as robust optimization. Summary Info-gap is a theory: it assists in decisions under uncertainty. It does this by using model ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robust Statistics
Robust statistics are statistics with good performance for data drawn from a wide range of probability distributions, especially for distributions that are not normal. Robust statistical methods have been developed for many common problems, such as estimating location, scale, and regression parameters. One motivation is to produce statistical methods that are not unduly affected by outliers. Another motivation is to provide methods with good performance when there are small departures from a parametric distribution. For example, robust methods work well for mixtures of two normal distributions with different standard deviations; under this model, non-robust methods like a t-test work poorly. Introduction Robust statistics seek to provide methods that emulate popular statistical methods, but which are not unduly affected by outliers or other small departures from Statistical assumption, model assumptions. In statistics, classical estimation methods rely heavily on assumpti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Classical Decision Theory Perspective
Classical may refer to: European antiquity *Classical antiquity, a period of history from roughly the 7th or 8th century B.C.E. to the 5th century C.E. centered on the Mediterranean Sea *Classical architecture, architecture derived from Greek and Roman architecture of classical antiquity *Classical mythology, the body of myths from the ancient Greeks and Romans *Classical tradition, the reception of classical Greco-Roman antiquity by later cultures *Classics, study of the language and culture of classical antiquity, particularly its literature *Classicism, a high regard for classical antiquity in the arts Music and arts *Classical ballet, the most formal of the ballet styles *Classical music, a variety of Western musical styles from the 9th century to the present *Classical guitar, a common type of acoustic guitar *Classical Hollywood cinema, a visual and sound style in the American film industry between 1927 and 1963 * Classical Indian dance, various codified art forms whose theo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ellipsoid
An ellipsoid is a surface that may be obtained from a sphere by deforming it by means of directional scalings, or more generally, of an affine transformation. An ellipsoid is a quadric surface; that is, a surface that may be defined as the zero set of a polynomial of degree two in three variables. Among quadric surfaces, an ellipsoid is characterized by either of the two following properties. Every planar cross section is either an ellipse, or is empty, or is reduced to a single point (this explains the name, meaning "ellipse-like"). It is bounded, which means that it may be enclosed in a sufficiently large sphere. An ellipsoid has three pairwise perpendicular axes of symmetry which intersect at a center of symmetry, called the center of the ellipsoid. The line segments that are delimited on the axes of symmetry by the ellipsoid are called the ''principal axes'', or simply axes of the ellipsoid. If the three axes have different lengths, the figure is a triaxial ellipsoid (r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Garbage In, Garbage Out
In computer science, garbage in, garbage out (GIGO) is the concept that flawed, or nonsense (garbage) input data produces nonsense output. Rubbish in, rubbish out (RIRO) is an alternate wording. The principle applies to all logical argumentation: soundness implies validity, but validity does not imply soundness. History The expression was popular in the early days of computing. The first known use is in a 1957 syndicated newspaper article about US Army mathematicians and their work with early computers, in which an Army Specialist named William D. Mellin explained that computers cannot think for themselves, and that "sloppily programmed" inputs inevitably lead to incorrect outputs. The underlying principle was noted by the inventor of the first programmable computing device design: More recently, the Marine Accident Investigation Branch comes to a similar conclusion: The term may have been derived from last-in, first-out (LIFO) or first-in, first-out (FIFO). Uses This p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Phillips Curve
The Phillips curve is an economic model, named after William Phillips hypothesizing a correlation between reduction in unemployment and increased rates of wage rises within an economy. While Phillips himself did not state a linked relationship between employment and inflation, this was a trivial deduction from his statistical findings. Paul Samuelson and Robert Solow made the connection explicit and subsequently Milton Friedman and Edmund Phelps put the theoretical structure in place. While there is a short run tradeoff between unemployment and inflation, it has not been observed in the long run.Chang, R. (1997"Is Low Unemployment Inflationary?" ''Federal Reserve Bank of Atlanta Economic Review'' 1Q97:4-13 In 1967 and 1968, Friedman and Phelps asserted that the Phillips curve was only applicable in the short-run and that, in the long-run, inflationary policies would not decrease unemployment. Friedman then correctly predicted that in the 1973–75 recession, both inflation an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Friction
Friction is the force resisting the relative motion of solid surfaces, fluid layers, and material elements sliding against each other. There are several types of friction: *Dry friction is a force that opposes the relative lateral motion of two solid surfaces in contact. Dry friction is subdivided into ''static friction'' ("stiction") between non-moving surfaces, and ''kinetic friction'' between moving surfaces. With the exception of atomic or molecular friction, dry friction generally arises from the interaction of surface features, known as asperities (see Figure 1). *Fluid friction describes the friction between layers of a viscous fluid that are moving relative to each other. *Lubricated friction is a case of fluid friction where a lubricant fluid separates two solid surfaces. *Skin friction is a component of drag, the force resisting the motion of a fluid across the surface of a body. *Internal friction is the force resisting motion between the elements making up a so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Probability Distribution
In probability theory and statistics, a probability distribution is the mathematical function that gives the probabilities of occurrence of different possible outcomes for an experiment. It is a mathematical description of a random phenomenon in terms of its sample space and the probabilities of events (subsets of the sample space). For instance, if is used to denote the outcome of a coin toss ("the experiment"), then the probability distribution of would take the value 0.5 (1 in 2 or 1/2) for , and 0.5 for (assuming that the coin is fair). Examples of random phenomena include the weather conditions at some future date, the height of a randomly selected person, the fraction of male students in a school, the results of a survey to be conducted, etc. Introduction A probability distribution is a mathematical description of the probabilities of events, subsets of the sample space. The sample space, often denoted by \Omega, is the set of all possible outcomes of a random phe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Probability Theory
Probability theory is the branch of mathematics concerned with probability. Although there are several different probability interpretations, probability theory treats the concept in a rigorous mathematical manner by expressing it through a set of axioms. Typically these axioms formalise probability in terms of a probability space, which assigns a measure taking values between 0 and 1, termed the probability measure, to a set of outcomes called the sample space. Any specified subset of the sample space is called an event. Central subjects in probability theory include discrete and continuous random variables, probability distributions, and stochastic processes (which provide mathematical abstractions of non-deterministic or uncertain processes or measured quantities that may either be single occurrences or evolve over time in a random fashion). Although it is not possible to perfectly predict random events, much can be said about their behavior. Two major results in probability ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knightian Uncertainty
In economics, Knightian uncertainty is a lack of any quantifiable knowledge about some possible occurrence, as opposed to the presence of quantifiable risk (e.g., that in statistical noise or a parameter's confidence interval). The concept acknowledges some fundamental degree of ignorance, a limit to knowledge, and an essential unpredictability of future events. Knightian uncertainty is named after University of Chicago economist Frank Knight (1885–1972), who distinguished risk and uncertainty in his 1921 work ''Risk, Uncertainty, and Profit:''Knight, F. H. (1921Risk, Uncertainty, and Profit Boston, MA: Hart, Schaffner & Marx; Houghton Mifflin Company :"Uncertainty must be taken in a sense radically distinct from the familiar notion of Risk, from which it has never been properly separated.... The essential fact is that 'risk' means in some cases a quantity susceptible of measurement, while at other times it is something distinctly not of this character; and there are far-re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Homeland Security
Homeland security is an American national security term for "the national effort to ensure a homeland that is safe, secure, and resilient against terrorism and other hazards where American interests, aspirations, and ways of life can thrive" to the "national effort to prevent terrorist attacks within the United States, reduce the vulnerability of the U.S. to terrorism, and minimize the damage from attacks that do occur." According to an official work published by the Congressional Research Service in 2013, the "Homeland security" term's definition has varied over time. Homeland security is not constrained to terrorist incidents. Terrorism is violent, criminal acts committed by individuals and/or groups to further ideological goals stemming from influences, such as those of a political, religious, social, racial, or environmental nature. Within the US, an all-hazards approach exists regarding homeland security endeavors. In this sense, homeland security encompasses both natural d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Medicine
Medicine is the science and practice of caring for a patient, managing the diagnosis, prognosis, prevention, treatment, palliation of their injury or disease, and promoting their health. Medicine encompasses a variety of health care practices evolved to maintain and restore health by the prevention and treatment of illness. Contemporary medicine applies biomedical sciences, biomedical research, genetics, and medical technology to diagnose, treat, and prevent injury and disease, typically through pharmaceuticals or surgery, but also through therapies as diverse as psychotherapy, external splints and traction, medical devices, biologics, and ionizing radiation, amongst others. Medicine has been practiced since prehistoric times, and for most of this time it was an art (an area of skill and knowledge), frequently having connections to the religious and philosophical beliefs of local culture. For example, a medicine man would apply herbs and say prayers for healing, o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conservation Biology
Conservation biology is the study of the conservation of nature and of Earth's biodiversity with the aim of protecting species, their habitats, and ecosystems from excessive rates of extinction and the erosion of biotic interactions. It is an interdisciplinary subject drawing on natural and social sciences, and the practice of natural resource management. The conservation ethic is based on the findings of conservation biology. Origins The term conservation biology and its conception as a new field originated with the convening of "The First International Conference on Research in Conservation Biology" held at the University of California, San Diego in La Jolla, California, in 1978 led by American biologists Bruce A. Wilcox and Michael E. Soulé with a group of leading university and zoo researchers and conservationists including Kurt Benirschke, Sir Otto Frankel, Thomas Lovejoy, and Jared Diamond. The meeting was prompted due to concern over tropical deforestation, disappearin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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