PESTPP-MOU with risk? Why is risk maximized? #278
Unanswered
RyanConway91
asked this question in
Q&A
Replies: 1 comment 5 replies
-
You are right that conceptually we want to "minimize risk". But the way the risk argument is used in pestpp (for legacy reasons....) is such that risk = 0.95 is 95% confidence of satisfying a constraint and risk = 0.05 is 5% confidence of satisfying a constraint. A better way to think of the risk argument is probably as a reliability index. So if we maximize the risk argument, we are essentially maximizing reliability... Typically maximizing risk is in competition with the other objectives, just by the nature of economic and environmental conditions we are seeking, so there will be a pareto front along the risk objective. |
Beta Was this translation helpful? Give feedback.
5 replies
Sign up for free
to join this conversation on GitHub.
Already have an account?
Sign in to comment
-
I am referencing the GMDSI notebook examples for a PESTPP-MOU application I am developing.
Why is the risk objective maximized? Wouldn't we want to minimize it?
Or does it not matter if its maximized or minimized? Will MOU seek solutions which trade off high and low risk with the other objectives regardless of the optimization direction of risk?
Beta Was this translation helpful? Give feedback.
All reactions