Interactive Approach Application to Stochastic Multiobjective Allocation Problem - A Two-Phase Approach

• Authors: Maciej Nowak , Tadeusz Trzaskalik
• Languages of publication: EN

Abstracts

EN

In this paper a stochastic multiobjective allocation problem is considered. We assume that a particular resource should be allocated to T projects. Depending on the amount of allocated resource it is possible (with known probabilities) to obtain a specified level of each goal. The considered criteria are divided into two groups. The first group consists of financial criteria, the second one, of qualitative criteria, representing the degree to which the projects contribute to reaching strategic goals. We propose a two-phase procedure for identifying the strategy that should be implemented by a decision maker. Our technique combines multiobjective dynamic programming and interactive approach. First, efficient strategies are identified using Bellman's principle of optimality adapted to the multiobjective problem. Next, a dialog procedure is applied to identify the solution that satisfies the decision maker. A numerical example is presented to show the applicability of the procedure.

Keywords

EN

Stochastic allocation problem; Multiobjective dynamic programming interactive approach; Stochastic dominance

PL

Problem alokacji; Wielokryterialne programowanie; Podejście interaktywne; Oscylator stochastyczny

• Publisher: Uniwersytet Ekonomiczny w Katowicach
• Journal: Multiple Criteria Decision Making
• Year: 2014
• Volume: 9
• Pages: 84-100

Contributors

author

Maciej Nowak

author

Tadeusz Trzaskalik

References

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Identifiers

ISSN

2084-1531