Article ID: | iaor20022846 |
Country: | Netherlands |
Volume: | 138 |
Issue: | 2 |
Start Page Number: | 302 |
End Page Number: | 319 |
Publication Date: | Apr 2002 |
Journal: | European Journal of Operational Research |
Authors: | Sun Minghe |
Keywords: | programming: multiple criteria, control, financial |
A multiple objective programming approach is proposed as a new analytical tool to fit a model which is used to project faculty salaries. The projected salaries are used as a basis to allocate the available budget for faculty salary equity adjustments. The model is also used to classify all faculty members into two categories with one category consisting of those faculty members being underpaid and the other consisting of those being overpaid. The multiple objective programming approach is much more powerful than regression analysis for this purpose because budgetary and policy retrictions can be included in the model as constraints. It is also more flexible than the goal programming approach because it has desirable solution properties. Salary data from a public university are used as an example to demonstrate the use of the approach. In addition, determinants of faculty salaries and variables to be included in the model are briefly discussed.