Robustness
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Robustness
Author: Lars Peter Hansen
language: en
Publisher: Princeton University Press
Release Date: 2011-11-28
The standard theory of decision making under uncertainty advises the decision maker to form a statistical model linking outcomes to decisions and then to choose the optimal distribution of outcomes. This assumes that the decision maker trusts the model completely. But what should a decision maker do if the model cannot be trusted? Lars Hansen and Thomas Sargent, two leading macroeconomists, push the field forward as they set about answering this question. They adapt robust control techniques and apply them to economics. By using this theory to let decision makers acknowledge misspecification in economic modeling, the authors develop applications to a variety of problems in dynamic macroeconomics. Technical, rigorous, and self-contained, this book will be useful for macroeconomists who seek to improve the robustness of decision-making processes.
Robustness Tests for Quantitative Research
Author: Eric Neumayer
language: en
Publisher: Cambridge University Press
Release Date: 2017-08-17
This highly accessible book presents robustness testing as the methodology for conducting quantitative analyses in the presence of model uncertainty.
Robustness and Evolvability in Living Systems
Author: Andreas Wagner
language: en
Publisher: Princeton University Press
Release Date: 2013-10-24
All living things are remarkably complex, yet their DNA is unstable, undergoing countless random mutations over generations. Despite this instability, most animals do not grow two heads or die, plants continue to thrive, and bacteria continue to divide. Robustness and Evolvability in Living Systems tackles this perplexing paradox. The book explores why genetic changes do not cause organisms to fail catastrophically and how evolution shapes organisms' robustness. Andreas Wagner looks at this problem from the ground up, starting with the alphabet of DNA, the genetic code, RNA, and protein molecules, moving on to genetic networks and embryonic development, and working his way up to whole organisms. He then develops an evolutionary explanation for robustness. Wagner shows how evolution by natural selection preferentially finds and favors robust solutions to the problems organisms face in surviving and reproducing. Such robustness, he argues, also enhances the potential for future evolutionary innovation. Wagner also argues that robustness has less to do with organisms having plenty of spare parts (the redundancy theory that has been popular) and more to do with the reality that mutations can change organisms in ways that do not substantively affect their fitness. Unparalleled in its field, this book offers the most detailed analysis available of all facets of robustness within organisms. It will appeal not only to biologists but also to engineers interested in the design of robust systems and to social scientists concerned with robustness in human communities and populations.