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.
Multiple criteria decision making; Goal Programming; Dynamic optimization; Ramsey model
Settore SECS-S/06 - Metodi mat. dell'economia e Scienze Attuariali e Finanziarie
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2434/788201
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