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Introduction to Uncertainty Quantification

Roger Ghanem (), David Higdon () and Houman Owhadi ()
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Roger Ghanem: University of Southern California, Department of Civil and Environmental Engineering
David Higdon: Virginia Polytechnic Institute and State University, Social Decision Analytics Laboratory, Biocomplexity Institute
Houman Owhadi: California Institute of Technology, Computing and Mathematical Sciences

Chapter 1 in Handbook of Uncertainty Quantification, 2017, pp 3-6 from Springer

Abstract: Abstract Technology, in common with many other activities, tends toward avoidance of risks by investors. Uncertainty is ruled out if possible. People generally prefer the predictable. Few recognize how destructive this can be, how it imposes severe limits on variability and thus makes whole populations fatally vulnerable to the shocking ways our universe can throw the dice.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-12385-1_1

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DOI: 10.1007/978-3-319-12385-1_1

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