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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] |
