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Author: C.-L. Hwang Publisher: Springer Science & Business Media ISBN: 3642455115 Category : Business & Economics Languages : en Pages : 366
Book Description
Decision making is the process of selecting a possible course of action from all the available alternatives. In almost all such problems the multiplicity of criteria for judging the alternatives is pervasive. That is, for many such problems, the decision maker (OM) wants to attain more than one objective or goal in selecting the course of action while satisfying the constraints dictated by environment, processes, and resources. Another characteristic of these problems is that the objectives are apparently non commensurable. Mathematically, these problems can be represented as: (1. 1 ) subject to: gi(~) ~ 0, ,', . . . ,. ! where ~ is an n dimensional decision variable vector. The problem consists of n decision variables, m constraints and k objectives. Any or all of the functions may be nonlinear. In literature this problem is often referred to as a vector maximum problem (VMP). Traditionally there are two approaches for solving the VMP. One of them is to optimize one of the objectives while appending the other objectives to a constraint set so that the optimal solution would satisfy these objectives at least up to a predetermined level. The problem is given as: Max f. ~) 1 (1. 2) subject to: where at is any acceptable predetermined level for objective t. The other approach is to optimize a super-objective function created by multiplying each 2 objective function with a suitable weight and then by adding them together.
Author: C.-L. Hwang Publisher: Springer Science & Business Media ISBN: 3642455115 Category : Business & Economics Languages : en Pages : 366
Book Description
Decision making is the process of selecting a possible course of action from all the available alternatives. In almost all such problems the multiplicity of criteria for judging the alternatives is pervasive. That is, for many such problems, the decision maker (OM) wants to attain more than one objective or goal in selecting the course of action while satisfying the constraints dictated by environment, processes, and resources. Another characteristic of these problems is that the objectives are apparently non commensurable. Mathematically, these problems can be represented as: (1. 1 ) subject to: gi(~) ~ 0, ,', . . . ,. ! where ~ is an n dimensional decision variable vector. The problem consists of n decision variables, m constraints and k objectives. Any or all of the functions may be nonlinear. In literature this problem is often referred to as a vector maximum problem (VMP). Traditionally there are two approaches for solving the VMP. One of them is to optimize one of the objectives while appending the other objectives to a constraint set so that the optimal solution would satisfy these objectives at least up to a predetermined level. The problem is given as: Max f. ~) 1 (1. 2) subject to: where at is any acceptable predetermined level for objective t. The other approach is to optimize a super-objective function created by multiplying each 2 objective function with a suitable weight and then by adding them together.
Author: Vira Chankong Publisher: Courier Dover Publications ISBN: 0486462897 Category : Technology & Engineering Languages : en Pages : 430
Book Description
This first-rate text explores the theory and methodology of systems engineering in evaluating alternative courses of action and associated decision-making policies. It treats criteria as multidimensional, rather than scalar, in the development of normative theories. These contribute to a behavioral theory of decision making and provide guidance for exercising judgment. An introductory discussion of the systemic approach to judgment and decision is followed by explorations of psychological value measurements, utility, classical decision analysis, and vector optimization theory. The second section chiefly deals with methods of assessing and evaluating alternatives, including both noninteractive and interactive methods. A taxonomy and a comparative evaluation of methods conclude the text.
Author: Jie Lu Publisher: Imperial College Press ISBN: 1860948596 Category : Business & Economics Languages : en Pages : 407
Book Description
This book proposes a set of models to describe fuzzy multi-objective decision making (MODM), fuzzy multi-criteria decision making (MCDM), fuzzy group decision making (GDM) and fuzzy multi-objective group decision-making problems, respectively. It also gives a set of related methods (including algorithms) to solve these problems. One distinguishing feature of this book is that it provides two decision support systems software for readers to apply these proposed methods. A set of real-world applications and some new directions in this area are then described to further instruct readers how to use these methods and software in their practice.
Author: Gwo-Hshiung Tzeng Publisher: CRC Press ISBN: 1466554622 Category : Business & Economics Languages : en Pages : 317
Book Description
Multi-objective programming (MOP) can simultaneously optimize multi-objectives in mathematical programming models, but the optimization of multi-objectives triggers the issue of Pareto solutions and complicates the derived answers. To address these problems, researchers often incorporate the concepts of fuzzy sets and evolutionary algorithms into M
Author: Ignacy Kaliszewski Publisher: Springer ISBN: 3319327569 Category : Business & Economics Languages : en Pages : 134
Book Description
This textbook approaches optimization from a multi-aspect, multi-criteria perspective. By using a Multiple Criteria Decision Making (MCDM) approach, it avoids the limits and oversimplifications that can come with optimization models with one criterion. The book is presented in a concise form, addressing how to solve decision problems in sequences of intelligence, modelling, choice and review phases, often iterated, to identify the most preferred decision variant. The approach taken is human-centric, with the user taking the final decision is a sole and sovereign actor in the decision making process. To ensure generality, no assumption about the Decision Maker preferences or behavior is made. The presentation of these concepts is illustrated by numerous examples, figures, and problems to be solved with the help of downloadable spreadsheets. This electronic companion contains models of problems to be solved built in Excel spreadsheet files. Optimization models are too often oversimplifications of decision problems met in practice. For instance, modeling company performance by an optimization model in which the criterion function is short-term profit to be maximized, does not fully reflect the essence of business management. The company’s managing staff is accountable not only for operational decisions, but also for actions which shall result in the company ability to generate a decent profit in the future. This calls for management decisions and actions which ensure short-term profitability, but also maintaining long-term relations with clients, introducing innovative products, financing long-term investments, etc. Each of those additional, though indispensable actions and their effects can be modeled separately, case by case, by an optimization model with a criterion function adequately selected. However, in each case the same set of constraints represents the range of company admissible actions. The aim and the scope of this textbook is to present methodologies and methods enabling modeling of such actions jointly.
Author: Zeshui Xu Publisher: Springer ISBN: 3662456400 Category : Business & Economics Languages : en Pages : 375
Book Description
This book introduces methods for uncertain multi-attribute decision making including uncertain multi-attribute group decision making and their applications to supply chain management, investment decision making, personnel assessment, redesigning products, maintenance services, military system efficiency evaluation. Multi-attribute decision making, also known as multi-objective decision making with finite alternatives, is an important component of modern decision science. The theory and methods of multi-attribute decision making have been extensively applied in engineering, economics, management and military contexts, such as venture capital project evaluation, facility location, bidding, development ranking of industrial sectors and so on. Over the last few decades, great attention has been paid to research on multi-attribute decision making in uncertain settings, due to the increasing complexity and uncertainty of supposedly objective aspects and the fuzziness of human thought. This book can be used as a reference guide for researchers and practitioners working in e.g. the fields of operations research, information science, management science and engineering. It can also be used as a textbook for postgraduate and senior undergraduate students.
Author: Ralph L. Keeney Publisher: Cambridge University Press ISBN: 9780521438834 Category : Business & Economics Languages : en Pages : 596
Book Description
This book describes how a confused decision maker, who wishes to make a reasonable and responsible choice among alternatives, can systematically probe their thoughts and feelings in order to make the critically important trade-offs between incommensurable objectives.
Author: Cengiz Kahraman Publisher: Springer Science & Business Media ISBN: 0387768130 Category : Computers Languages : en Pages : 591
Book Description
This work examines all the fuzzy multicriteria methods recently developed, such as fuzzy AHP, fuzzy TOPSIS, interactive fuzzy multiobjective stochastic linear programming, fuzzy multiobjective dynamic programming, grey fuzzy multiobjective optimization, fuzzy multiobjective geometric programming, and more. Each of the 22 chapters includes practical applications along with new developments/results. This book may be used as a textbook in graduate operations research, industrial engineering, and economics courses. It will also be an excellent resource, providing new suggestions and directions for further research, for computer programmers, mathematicians, and scientists in a variety of disciplines where multicriteria decision making is needed.
Author: C.-L. Hwang
Author: C.-L. Hwang
Author: Vira Chankong
Author: Jie Lu
Author: Gwo-Hshiung Tzeng
Author: Craig W. Kirkwood
Author: Ignacy Kaliszewski
Author: Zeshui Xu
Author: Ali E. Abbas
Author: Ralph L. Keeney
Author: Cengiz Kahraman