What PROBLEM does Info-Gaps decision-making MODEL actually represent?
Answer-60: This important FAQ brings to light one of Info-Gap’s greatest methodological failings. It highlights the fact that it is actually unclear what problem does the Info-Gap methodology grapple with. What problem does Info-Gap seek to answer? The point is this. When we conduct an investigation of a problem, be it for purely theoretical purposes, or for practical purposes or, for a combination of both, a crucial activity in this effort is the “mathematical modeling” of the problem concerned. The accepted practice while engaging in this activity is to distinguish between the problem that we aim to analyze/solve and the model that we use for this purpose. The reason for this distinction is simple. It is usually the case that the same problem can be described and analyzed by more than one model. For example, consider the famous Traveling Salesman Problem (TSP). This problem can be formulated in various ways: by an Integer Programming (IP) model and by a dynamic programming (DP) model
Related Questions
- Isn it more accurate to view Info-Gaps decision-making model as a representation of an optimization problem rather than a satisficing problem?
- Are there any general purpose solution methods for the generic problem posed by Info-Gaps decision-making model?
- What PROBLEM does Info-Gaps decision-making MODEL actually represent?
