Define key concepts
Spend a few minutes writing down your definitions of:
- Well-characterized uncertainty
- Optimal expected utility
- Deep uncertainty
- Precautionary principle
- Robust decision
- Regret
- Satisficing
- Keeping options open
Discuss results
- What visual languages accompany different types of robustness metrics?
- What strategy should the decision-makers choose?
Scrutinize key concepts
Let’s discuss:
- Well-characterized vs. deep uncertainty
- Optimal expected utility vs. robustness
- Precautionary principle vs. robustness
- Regret vs. satisficing
- Considering too little vs. too much
Applying concepts to our decision problems
Example - home elevation problem
- What can I do to know what robustness metrics are relevant?
- Do beliefs about uncertain drivers or problem scope uncertainties matter more?
Your examples
Let’s take turns applying some new concepts to our problem framing.
This week
- We’ll go over the RDM tutorial on Friday together
Next week
- Monday - high-level overview of considering and navigating tradeoffs in our decision problems
- Wednesday - case study (who can lead?)
- Friday - tutorial on visualizing trade-offs