prob abil istic ▁decision ▁theory ▁that ▁see ks ▁to ▁optimize ▁robust ness ▁to ▁failure ▁– ▁or ▁opportun eness ▁for ▁wind fall ▁– ▁under ▁severe ▁uncertainty , ▁in ▁particular ▁applying ▁sens itivity ▁analysis ▁of ▁the ▁stability ▁radius ▁type ▁to ▁perturb ations ▁in ▁the ▁value ▁of ▁a ▁given ▁estimate ▁of ▁the ▁parameter ▁of ▁interest . ▁It ▁has ▁some ▁connections ▁with ▁Wald ' s ▁maxim in ▁model ; ▁some ▁authors ▁distinguish ▁them , ▁others ▁consider ▁them ▁instances ▁of ▁the ▁same ▁principle . ▁ ▁It ▁has ▁been ▁developed ▁since ▁the ▁ 1 9 8 0 s ▁by ▁Y akov ▁Ben - Ha im , ▁and ▁has ▁found ▁many ▁applications ▁and ▁described ▁as ▁a ▁theory ▁for ▁decision - making ▁under ▁" se vere ▁uncertainty ". ▁ ▁It ▁has ▁been ▁critic ized ▁as ▁un su ited ▁for ▁this ▁purpose , ▁and ▁alternatives ▁proposed , ▁including ▁such ▁classical ▁approaches ▁as ▁robust ▁optimization . ▁ ▁Sum mary ▁ ▁Info - g ap ▁is ▁a ▁decision ▁theory : ▁it ▁see ks ▁to ▁assist ▁in ▁decision - making ▁under ▁uncertainty . ▁It ▁does ▁this ▁by ▁using ▁ 3 ▁models , ▁each ▁of ▁which ▁builds ▁on ▁the ▁last . ▁One ▁begins ▁with ▁a ▁model ▁for ▁the ▁situation , ▁where ▁some ▁parameter ▁or ▁parameters ▁are ▁unknown . ▁One ▁then ▁takes ▁an ▁estimate ▁for ▁the ▁parameter , ▁which ▁is ▁assumed ▁to ▁be ▁substantial ly ▁wrong , ▁and ▁one ▁analy zes ▁how ▁sensitive ▁the ▁out comes ▁under ▁the ▁model ▁are ▁to ▁the ▁error ▁in ▁this ▁estimate . ▁Un certain ty ▁model ▁Starting ▁from ▁the ▁estimate , ▁an