Article ID: | iaor1991783 |
Country: | United States |
Volume: | 36 |
Issue: | 9 |
Start Page Number: | 1106 |
End Page Number: | 1119 |
Publication Date: | Sep 1990 |
Journal: | Management Science |
Authors: | Lee Y.R., Shi Y, Yu P.L. |
Keywords: | decision theory, programming: multiple criteria |
In optimal design problems the authors try to select a subset from the opportunity set for commitment for a period of time. As the external parameters can vary with time, optimal contingency plans must be constructed to cope with the external conditions. The authors describe the formulation and methods for locating potentially good designs and their corresponding optimal contingency plans using a multiple-criteria and multiple-constraint level (MC2) simplex method to solve the optimal design problems which have been shown to become amenable to the techniques of decision making under uncertainty.