Dynamic multiple criteria decision making (DMCDM) represents an extension of classical multiple criteria decision making to a context in which all variables are depending on time. This complex decision making problem requires the development of methodologies able to incorporate different and conflicting goals in a satisfying design of policies. We formulate two different goal programming models, namely a weighted goal programming model and a goal programming model with satisfaction functions, for solving DMCDM models. We present an application of this methodology to analyze the trade-off between consumption and investment in a traditional Ramsey-type macroeconomic model with heterogeneous agents. For a specific realistic parameterization, such a model is solved by means of the proposed goal programming formulations.
On Dynamic Multiple Criteria Decision Making Models : a Goal Programming Approach / D. Liuzzi, B. Aouni, C. Colapinto, D. La Torre, S. Marsiglio (MULTIPLE CRITERIA DECISION MAKING). - In: Multiple Criteria Decision Making in Finance, Insurance and Investment / [a cura di] M. Al-Shammari, H. Masri. - Cham : Springer, 2015. - ISBN 978-3-319-21157-2. - pp. 31-48 [10.1007/978-3-319-21158-9_3]
On Dynamic Multiple Criteria Decision Making Models : a Goal Programming Approach
D. Liuzzi;C. Colapinto;D. La Torre
;S. Marsiglio
2015
Abstract
Dynamic multiple criteria decision making (DMCDM) represents an extension of classical multiple criteria decision making to a context in which all variables are depending on time. This complex decision making problem requires the development of methodologies able to incorporate different and conflicting goals in a satisfying design of policies. We formulate two different goal programming models, namely a weighted goal programming model and a goal programming model with satisfaction functions, for solving DMCDM models. We present an application of this methodology to analyze the trade-off between consumption and investment in a traditional Ramsey-type macroeconomic model with heterogeneous agents. For a specific realistic parameterization, such a model is solved by means of the proposed goal programming formulations.File | Dimensione | Formato | |
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