The role of cardinal utilities in multiple objective programming

The role of cardinal utilities in multiple objective programming

0.00 Avg rating0 Votes
Article ID: iaor1997707
Country: United States
Volume: 14
Start Page Number: 301
End Page Number: 325
Publication Date: Jul 1994
Journal: American Journal of Mathematical and Management Sciences
Authors: ,
Abstract:

Ordinal utilities are often used in investigating different types of efficient solutions in the multiple objective programming literature. The use of ordinal utilities implies that the decision making process does not involve risky alternatives, and very few of the important decisions in the real world can be successfully made without carefully considering the risk phenomenon. This paper examines the multiple objective programming problem by taking a decision maker’s preferences and risk attitudes into account. The characterization of a particular type of efficiency, proper efficiency, is made via optimizing the associated utility-related scalar problems.

Reviews

Required fields are marked *. Your email address will not be published.