Anti-fragile Decision-making: tHink beYonD Robustness And resilience (HYDRA)

HYDRA

Table of contents

Project duration
-
Core fields of research
Basic natural phenomena and mathematical thinking
Information technology and the human in the knowledge society
Research areas
JYU.Wisdom
Decision analytics utilizing causal models and multiobjective optimization
Faculty
Faculty of Information Technology
Funding
Research Council of Finland
Funds granted by the main funder (€): 654 491,00

Project description

Gaza's war, the Russian invasion of Ukraine, and the coronavirus outbreak were recent global wake-up calls highlighting the fragility of our decisions and prompted all the decision-makers to understand that our perspectives and approaches must change. HYDRA aims to provide support to make better and antifragile decisions. The focus is on handling deep uncertainty and better preparation for the future. The architecture to be developed renews the perspective of decision-making under uncertainty to think beyond robustness and resilience and look for opportunities to benefit from volatilities. This comprehensive architecture does not only rely on history and unreliable predictions. It also considers less probable and rare events and consequences of the decisions, supports simultaneous consideration of multiple objectives, provides adaptive pathways to avoid fragility and continuous performance improvement in the long-term planning horizon, and will be validated in real-life applications.