This book develops and analyzes dynamic decision models (DDM) with one trajectoral objective according to the methodology of multi-criteria decision making (MCDM). Moreover, DDMs which concomitantly pursue multiple objectives are analyzed, with special emphasis given to hybrid models with scalar and trajectorial objectives as well as models with multiple trajectorial objectives. Introducing the method of distance maximization crucially augments MCDM and proves to be invaluable for DDMs with nonexistent utopia trajectory or with sustainability as objective. The notions of efficiency and sustainability are formally developed and counterposed by means of the construct of trajectorial objective, which is presented here, along with its implications, as a natural advance upon the classical scalar objective.
Efficiency versus Sustainability in Dynamic Decision Making
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First Sentence:
In institutions ranging from private households, to companies, and public administration, people on whichever hierarchical level are responsible for certain domains, and thus make decisions on a daily basis. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
vector optimization model, utopia trajectory, dynamic decision model, nadir trajectory, admissible control trajectories, intertemporal conflict, objective trajectories, satisficing objective, aspiration trajectory, distance maximization, objective trajectory, dominance cones, lower reference point, consumption trajectory, scalarizing function, consumption trajectories, compromise functional, individual optima, compromise model, utopia point, scalar objective, individual optimum, nadir point, distance minimization, compromise methods Key Phrases - Capitalized Phrases (CAPs): (learn more)
Robinson's Household, Dynamic Programming, Concluding Remarks, Optimal Control Theory New!
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
In institutions ranging from private households, to companies, and public administration, people on whichever hierarchical level are responsible for certain domains, and thus make decisions on a daily basis. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
vector optimization model, utopia trajectory, dynamic decision model, nadir trajectory, admissible control trajectories, intertemporal conflict, objective trajectories, satisficing objective, aspiration trajectory, distance maximization, objective trajectory, dominance cones, lower reference point, consumption trajectory, scalarizing function, consumption trajectories, compromise functional, individual optima, compromise model, utopia point, scalar objective, individual optimum, nadir point, distance minimization, compromise methods Key Phrases - Capitalized Phrases (CAPs): (learn more)
Robinson's Household, Dynamic Programming, Concluding Remarks, Optimal Control Theory New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 53
books:
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- Dynamic Programming (Dover Books on Computer Science) by Richard Bellman on 5 pages
- Operations Research: Beiträge zur quantitativen Wirtschaftsforschung (English and German Edition) by Günter Fandel in Back Matter (1), and Back Matter (2)
- The Core of Economies with Asymmetric Information (Lecture Notes in Economics and Mathematical Systems) by Ulrich Schwalbe in Back Matter
- Handbook of Mathematics by I.N. Bronshtein in Back Matter
- Transitional Dynamics and Economic Growth in Developing Countries (Lecture Notes in Economics and Mathematical Systems) by Thomas Steger in Back Matter
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