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Department of Mathematical Sciences

Seminar Archives

On this page you can find information about seminars in this and previous academic years, where available on the database.

Statistics Seminars: Info-Gap Robust-Satisfi cing and the Probability of Survival

Presented by Yakov Ben-Haim, Technion - Israel Institute of Technology, Haifa, Israel

2 June 2010 14:15 in CM107

Concepts of robustness are often employed when decisions under uncertainty are made without
probabilistic information. We present a theorem which establishes necessary and sufficient conditions
for non-probabilistic robustness to be equivalent to probability of success. When this "proxy property" holds,
probability of success is enhanced (or maximized) by enhancing (or maximizing)
robustness. Two further theorems establish important special cases. The proxy property implies
that robustness has survival advantage over other strategies. This explains the prevalence of robust
strategies in competition under uncertainty. Applications to foraging, forecasting, economics,
Bayesian model mixing, and Ellsberg's paradox of behavior under ambiguity are discussed.

Host: Frank Coolen

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