A Decision Aid Approach for Optimisation Problems Involving Several Economic Functions

DOI: 10.4236/ajor.2012.23040   PDF   HTML   XML   3,259 Downloads   5,677 Views   Citations


Many concrete real life problems ranging from economic and business to industrial and engineering may be cast into a multi-objective optimisation framework. The redundancy of existing methods for solving this kind of problems susceptible to inconsistencies, coupled with the necessity for checking inherent assumptions before using a given method, make it hard for a nonspecialist to choose a method that fits well the situation at hand. Moreover, using blindly a method as proponents of the hammer principle (when you only have a hammer, you want everything in your hand to be a nail) is an awkward approach at best and a caricatural one at worst. This brings challenges to the design of a tool able to help a Decision Maker faced with these kinds of problems. The help should be at two levels. First the tool should be able to choose an appropriate multi-objective programming technique and second it should single out a satisfying solution using the chosen technique. The choice of a method should be made according to the structure of the problem and to the Decision Maker’s judgment value. This paper is an attempt to satisfy that need. We present a Decision Aid Approach that embeds a sample of good multi-objective programming techniques. The system is able to assist the Decision Maker in the above mentioned two tasks.

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M. Rangoaga, M. Luhandjula and S. Ruzibiza, "A Decision Aid Approach for Optimisation Problems Involving Several Economic Functions," American Journal of Operations Research, Vol. 2 No. 3, 2012, pp. 331-338. doi: 10.4236/ajor.2012.23040.

Conflicts of Interest

The authors declare no conflicts of interest.


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