From: Adopting robust decision-making to forest management under climate change
 | Regret-based | Satisficing-based | Satisficing-optimizing |
---|---|---|---|
Relative performance criteria | Absolute performance criteria | ||
Goal | Minimizing the maximum deviation of an alternative’s performance from estimated/best performance across scenarios | Maximize the fraction of scenarios in which an alternative meets performance criteria | Minimize the worst-case performance |
Metrics | Regret to best estimate scenario: candidate alternative’s maximum performance deviation between best-estimate scenario and each other scenario | Global satisficing: fraction of scenarios of candidate alternative in which performance requirements are met | All constraints to the objective function have to be fulfilled over the uncertainty set (scenarios) |
 | Regret to best performing alternative: maximum performance deviation of best-performing alternative and candidate alternative for each scenario | Local satisficing: number of uncertainty intervals from a best estimate outwards until candidate alternative fails performance requirements |  |
Related concepts | Savage’s minimax regret | Radius of stability | Wald’s maximin |