Making decisions under uncertainty

Yakov Ben-Haim

Technion – Israel Institute of Technology

March 2024

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Designing better pension solutions requires thinking outside the box and informed long-term investment decision-making. This comes with a lot of uncertainty. How can we make better decisions about new retirement solutions when the future is uncertain?

This challenge isn’t unique to the pension industry, and there’s much we can learn from others. So we ask:

  • Is the financial industry’s obsession with ‘optimal’ solutions a false friend?
  • How do we apply models with incomplete information?
  • What tools and theories have proven successful elsewhere?

To answer these questions is our guest speaker, Professor Yakov Ben-Haim from Technion – Israel Institute of Technology. Yakov developed the info-gap theory and is uniquely positioned to guide us through decision-making under severe uncertainty. He has applied this theory to solve practical problems across industries.

About Yakov Ben-Haim

Professor Yakov Ben-Haim is emeritus professor from Technion – Israel Institute of Technology.

Over the years, Yakov has made significant contributions to the field of planning and decision-making under severe uncertainty. He is especially known for developing the info-gap theory, which has been applied to many different areas, from project management and economics to national security.

Yakov has written an accessible book on how to deal with uncertainty when innovating, ‘The Dilemmas of Wonderland – Decisions in the Age of Innovation’.

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