Accession Number : ADA116897

Title :   Are Robustness Measures Robust,

Corporate Author : RAND CORP SANTA MONICA CA

Personal Author(s) : Argueden,R Yilmaz

PDF Url : ADA116897

Report Date : Jan 1982

Pagination or Media Count : 22

Abstract : To a large degree, the classical approach to problem solving in operations research (OR) is to fit a real life situation into a well-known OR model. When OR models are used to deal with major policy problems in which the underlying processes are not well understood, this effort results in too much simplification. Due to an inability to perceive all uncertainties, and a consequent wish to retain flexibility once the decisions are made, decisionmakers are more interested in the 'robustness' of their policy decisions than their 'optimality', which becomes a vague concept due to the nature of these problems. This paper emphasizes the desirability of robustness and criticizes attempts to fit an operationalized measure of robustness into an optimization structure, by the aid of a decision analytic example. (Author)

Descriptors :   *Operations research, Mathematical models, Problem solving, Risk, Decision making, Optimization, Policies, Public opinion, Trade off analysis

Subject Categories : Psychology
      Operations Research

Distribution Statement : APPROVED FOR PUBLIC RELEASE