How is it that Info-Gap decision theory fails to prescribe a sensitivity analysis with respect to the estimate û?
Answer-81: This is one of those inexplicable facts about Info-Gap decision theory. For, given that the “severe uncertainty” obtains with respect to the true value of u, one would have expected that a sensitivity analysis with respect to its estimate û be made an integral part of the methodology. So, the fact that Info-Gap decision theory fails to prescribe a sensitivity analysis with respect to the estimate û is further testimony to the flawed thinking informing it. Indeed, it is a testimony to the underlying failure to appreciate that a methodology that is aimed at tackling severe uncertainty but confines its robustness analysis to the neighborhood of a single (point) estimate of u, in effect ignores the severity of the uncertainty that it is supposed to manage. Of course, such a sensitivity analysis must be part and parcel of any methodology with pretensions to be considered a paradigm for decision-making under severe uncertainty. The difficulty in the case of Info-Gap is though that
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