Robust resource allocation: An info-gap approach

Lior Davidovitch; Yakov Ben-Haim

doi:10.1061/41170(400)120

Robust resource allocation: An info-gap approach

Lior Davidovitch
, Yakov Ben-Haim

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

1 Scopus citations

Abstract

A decision maker wishes to distribute a fixed amount of resources between several alternatives. Each alternative responds differently to allocation, as expressed by its responsiveness. The alternatives' different responsiveness to investment can be exploited for efficient allocation of resources. However, the responsiveness is highly uncertain, so prediction is difficult and uncertainty must be accounted for in designing an allocation. We use info-gap theory for satisficing (not minimizing) accumulated loss from several alternatives. We demonstrate the trade-off between robustness to uncertainty and total loss, and show the tight connection between the decision maker's notion of adequacy and the resulting allocation.

Original language	English
Title of host publication	Vulnerability, Uncertainty, and Risk
Subtitle of host publication	Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences
Pages	988-995
Number of pages	8
DOIs	https://doi.org/10.1061/41170(400)120
State	Published - 13 Jun 2011
Externally published	Yes
Event	International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2011 and the International Symposium on Uncertainty Modeling and Analysis, ISUMA 2011 - Hyattsville, MD, United States Duration: 11 Apr 2011 → 13 Apr 2011

Publication series

Name	Vulnerability, Uncertainty, and Risk: Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences

Conference

Conference	International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2011 and the International Symposium on Uncertainty Modeling and Analysis, ISUMA 2011
Country/Territory	United States
City	Hyattsville, MD
Period	11/04/11 → 13/04/11

ASJC Scopus subject areas

Safety, Risk, Reliability and Quality

Access to Document

10.1061/41170(400)120

Cite this

Davidovitch, L., & Ben-Haim, Y. (2011). Robust resource allocation: An info-gap approach. In Vulnerability, Uncertainty, and Risk: Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences (pp. 988-995). (Vulnerability, Uncertainty, and Risk: Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences). https://doi.org/10.1061/41170(400)120

Davidovitch, Lior ; Ben-Haim, Yakov. / Robust resource allocation : An info-gap approach. Vulnerability, Uncertainty, and Risk: Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences. 2011. pp. 988-995 (Vulnerability, Uncertainty, and Risk: Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences).

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title = "Robust resource allocation: An info-gap approach",

abstract = "A decision maker wishes to distribute a fixed amount of resources between several alternatives. Each alternative responds differently to allocation, as expressed by its responsiveness. The alternatives' different responsiveness to investment can be exploited for efficient allocation of resources. However, the responsiveness is highly uncertain, so prediction is difficult and uncertainty must be accounted for in designing an allocation. We use info-gap theory for satisficing (not minimizing) accumulated loss from several alternatives. We demonstrate the trade-off between robustness to uncertainty and total loss, and show the tight connection between the decision maker's notion of adequacy and the resulting allocation.",

author = "Lior Davidovitch and Yakov Ben-Haim",

year = "2011",

month = jun,

day = "13",

doi = "10.1061/41170(400)120",

language = "English",

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series = "Vulnerability, Uncertainty, and Risk: Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences",

pages = "988--995",

booktitle = "Vulnerability, Uncertainty, and Risk",

note = "International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2011 and the International Symposium on Uncertainty Modeling and Analysis, ISUMA 2011 ; Conference date: 11-04-2011 Through 13-04-2011",

}

Davidovitch, L & Ben-Haim, Y 2011, Robust resource allocation: An info-gap approach. in Vulnerability, Uncertainty, and Risk: Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences. Vulnerability, Uncertainty, and Risk: Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences, pp. 988-995, International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2011 and the International Symposium on Uncertainty Modeling and Analysis, ISUMA 2011, Hyattsville, MD, United States, 11/04/11. https://doi.org/10.1061/41170(400)120

Robust resource allocation: An info-gap approach. / Davidovitch, Lior; Ben-Haim, Yakov.
Vulnerability, Uncertainty, and Risk: Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences. 2011. p. 988-995 (Vulnerability, Uncertainty, and Risk: Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AB - A decision maker wishes to distribute a fixed amount of resources between several alternatives. Each alternative responds differently to allocation, as expressed by its responsiveness. The alternatives' different responsiveness to investment can be exploited for efficient allocation of resources. However, the responsiveness is highly uncertain, so prediction is difficult and uncertainty must be accounted for in designing an allocation. We use info-gap theory for satisficing (not minimizing) accumulated loss from several alternatives. We demonstrate the trade-off between robustness to uncertainty and total loss, and show the tight connection between the decision maker's notion of adequacy and the resulting allocation.

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DO - 10.1061/41170(400)120

M3 - Conference contribution

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Davidovitch L, Ben-Haim Y. Robust resource allocation: An info-gap approach. In Vulnerability, Uncertainty, and Risk: Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences. 2011. p. 988-995. (Vulnerability, Uncertainty, and Risk: Analysis, Modeling, and Management - Proceedings of the ICVRAM 2011 and ISUMA 2011 Conferences). doi: 10.1061/41170(400)120

Robust resource allocation: An info-gap approach

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