Info-gap Economics - 9780230228047

`Ben-Haim's theories...of how to calculate what one needs to know are, or should be, must reading for any one seriously involved in any aspect of today's economic world, from the trader on a desk to a Central Bank head. A method of calculating the "info gap" is certainly vital in setting policy.'---Lew Weston, Retired Partner, Goldman, Sachs & Co

`This is the time for info-gap and decisions under fundamental uncertainty.'---Maria Demertzis, Research Department, De Nederlandsche Bank

`This book provides an excellent overview on opportunities for economic applications of the Information-Gap Theory.'---Thomas Knoke, Institute of Forest Management, Technical University of Munich

`A must-read for serious economic decision makers.'---Colin J. Thompson, Maths and Statistics Department, University of Melbourne

After every crisis economists and policy analysts ask: can better models help prevent such situations? This book is an answer. Yes, quantitative models can help if we remember that they are rough approximations to a complex reality.

Info-gap theory is a new method for modelling and managing severe uncertainty. The core of the book presents detailed examples of info-gap analysis of decisions in monetary policy, financial economics, environmental economics for pollution control and climate change, estimation and forecasting.