Info-gap Decision Theory - Robustness and Opportuneness

Robustness and Opportuneness

Uncertainty may be either pernicious or propitious. That is, uncertain variations may be either adverse or favorable. Adversity entails the possibility of failure, while favorability is the opportunity for sweeping success. Info-gap decision theory is based on quantifying these two aspects of uncertainty, and choosing an action which addresses one or the other or both of them simultaneously. The pernicious and propitious aspects of uncertainty are quantified by two "immunity functions": the robustness function expresses the immunity to failure, while the opportuneness function expresses the immunity to windfall gain.