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Info-Gap Theory in Plain English

In: Info-Gap Economics

Author

Listed:
  • Yakov Ben-Haim

    (The Technion)

Abstract

Info-gap theory is described without using equations. The idea of an information-gap is introduced. The three components of an info-gap analysis are discussed: uncertainty model, system model, and performance requirement. The robustness and opportuneness functions are introduced and their use in decision making is discussed. Robustsatisficing and opportune-windfalling strategies are described. Implications of info-gap theory are outlined. Applications of info-gap theory to a wide range of disciplines are mentioned.

Suggested Citation

  • Yakov Ben-Haim, 2010. "Info-Gap Theory in Plain English," Palgrave Macmillan Books, in: Info-Gap Economics, chapter 0, pages 3-13, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-27732-8_1
    DOI: 10.1057/9780230277328_1
    as

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