A critique of Info-Gap's robustness model

Abstract

The notion "robustness" has an intuitive appeal, especially with respect to problems of decision making. Yet, a formal definition of this concept is not as straightforward as it may seem at first. Indeed, the evidence is that this concept can be easily misconstrued. In this discussion we focus on the mathematical formulation of robustness and, on some of its interpretations and classifications. As a case study we consider Info-Gap Decision Theory: We show that the robustness that Info-Gap employs is local and that this results in its failure to deal properly with severe uncertainty. © 2009 Taylor & Francis Group.