Analytica > Webinars > The value of knowing how little you know

The value of knowing how little you know

Lonnie Chrisman
June 23, 2023

When to leave for the plane (April 22, 2021)

What time should you leave to catch a plane flight? We all know intuitively to leave extra time for traffic and other uncertainties. But, how much time? And what’s the value of considering uncertainty? Max Henrion gave a talk on April 22, 2021 where he introduced the Expected Value of Including Uncertainty (EVIU), compare with the Expected Value of Perfect Information (EVPI), and the insights it gives into a variety of decision problems — including catching a plane. He’ll share the Analytica model.

Lonnie Chrisman

Lonnie Chrisman, PhD, is Lumina's Chief Technical Officer, where he heads engineering and development of Analytica. He was awarded the Alton B. Zerby award "Most outstanding Electrical Engineering Student in the USA", 1987. He has a PhD in Artificial Intelligence and Computer Science from Carnegie Mellon University; and a BS in Electrical Engineering from University of California at Berkeley.