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Multi Objective Decision Making
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Book Synopsis Multiple Objective Decision Making — Methods and Applications by : C.-L. Hwang
Download or read book Multiple Objective Decision Making — Methods and Applications written by C.-L. Hwang and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Decision making is the process of selecting a possible course of action from all the available alternatives. In almost all such problems the multiplicity of criteria for judging the alternatives is pervasive. That is, for many such problems, the decision maker (OM) wants to attain more than one objective or goal in selecting the course of action while satisfying the constraints dictated by environment, processes, and resources. Another characteristic of these problems is that the objectives are apparently non commensurable. Mathematically, these problems can be represented as: (1. 1 ) subject to: gi(~) ~ 0, ,', . . . ,. ! where ~ is an n dimensional decision variable vector. The problem consists of n decision variables, m constraints and k objectives. Any or all of the functions may be nonlinear. In literature this problem is often referred to as a vector maximum problem (VMP). Traditionally there are two approaches for solving the VMP. One of them is to optimize one of the objectives while appending the other objectives to a constraint set so that the optimal solution would satisfy these objectives at least up to a predetermined level. The problem is given as: Max f. ~) 1 (1. 2) subject to: where at is any acceptable predetermined level for objective t. The other approach is to optimize a super-objective function created by multiplying each 2 objective function with a suitable weight and then by adding them together.
Book Synopsis Multi-objective Group Decision Making by : Jie Lu
Download or read book Multi-objective Group Decision Making written by Jie Lu and published by Imperial College Press. This book was released on 2007 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proposes a set of models to describe fuzzy multi-objective decision making (MODM), fuzzy multi-criteria decision making (MCDM), fuzzy group decision making (GDM) and fuzzy multi-objective group decision-making problems, respectively. It also gives a set of related methods (including algorithms) to solve these problems. One distinguishing feature of this book is that it provides two decision support systems software for readers to apply these proposed methods. A set of real-world applications and some new directions in this area are then described to further instruct readers how to use these methods and software in their practice.
Book Synopsis Multiobjective Decision Making by : Vira Chankong
Download or read book Multiobjective Decision Making written by Vira Chankong and published by Courier Dover Publications. This book was released on 2008-02-04 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first-rate text explores the theory and methodology of systems engineering in evaluating alternative courses of action and associated decision-making policies. It treats criteria as multidimensional, rather than scalar, in the development of normative theories. These contribute to a behavioral theory of decision making and provide guidance for exercising judgment. An introductory discussion of the systemic approach to judgment and decision is followed by explorations of psychological value measurements, utility, classical decision analysis, and vector optimization theory. The second section chiefly deals with methods of assessing and evaluating alternatives, including both noninteractive and interactive methods. A taxonomy and a comparative evaluation of methods conclude the text.
Book Synopsis Multi-Objective Decision Making by : Diederik M. Zhou
Download or read book Multi-Objective Decision Making written by Diederik M. Zhou and published by Springer Nature. This book was released on 2022-05-31 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many real-world decision problems have multiple objectives. For example, when choosing a medical treatment plan, we want to maximize the efficacy of the treatment, but also minimize the side effects. These objectives typically conflict, e.g., we can often increase the efficacy of the treatment, but at the cost of more severe side effects. In this book, we outline how to deal with multiple objectives in decision-theoretic planning and reinforcement learning algorithms. To illustrate this, we employ the popular problem classes of multi-objective Markov decision processes (MOMDPs) and multi-objective coordination graphs (MO-CoGs). First, we discuss different use cases for multi-objective decision making, and why they often necessitate explicitly multi-objective algorithms. We advocate a utility-based approach to multi-objective decision making, i.e., that what constitutes an optimal solution to a multi-objective decision problem should be derived from the available information about user utility. We show how different assumptions about user utility and what types of policies are allowed lead to different solution concepts, which we outline in a taxonomy of multi-objective decision problems. Second, we show how to create new methods for multi-objective decision making using existing single-objective methods as a basis. Focusing on planning, we describe two ways to creating multi-objective algorithms: in the inner loop approach, the inner workings of a single-objective method are adapted to work with multi-objective solution concepts; in the outer loop approach, a wrapper is created around a single-objective method that solves the multi-objective problem as a series of single-objective problems. After discussing the creation of such methods for the planning setting, we discuss how these approaches apply to the learning setting. Next, we discuss three promising application domains for multi-objective decision making algorithms: energy, health, and infrastructure and transportation. Finally, we conclude by outlining important open problems and promising future directions.
Book Synopsis Improving Homeland Security Decisions by : Ali E. Abbas
Download or read book Improving Homeland Security Decisions written by Ali E. Abbas and published by Cambridge University Press. This book was released on 2017-11-02 with total page 787 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are we safer from terrorism today and is our homeland security money well spent? This book offers answers and more.
Book Synopsis Decisions with Multiple Objectives by : Ralph L. Keeney
Download or read book Decisions with Multiple Objectives written by Ralph L. Keeney and published by Cambridge University Press. This book was released on 1993-07 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes how a confused decision maker, who wishes to make a reasonable and responsible choice among alternatives, can systematically probe their thoughts and feelings in order to make the critically important trade-offs between incommensurable objectives.
Book Synopsis Fuzzy Multiple Objective Decision Making by : Gwo-Hshiung Tzeng
Download or read book Fuzzy Multiple Objective Decision Making written by Gwo-Hshiung Tzeng and published by CRC Press. This book was released on 2016-04-19 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: Multi-objective programming (MOP) can simultaneously optimize multi-objectives in mathematical programming models, but the optimization of multi-objectives triggers the issue of Pareto solutions and complicates the derived answers. To address these problems, researchers often incorporate the concepts of fuzzy sets and evolutionary algorithms into M
Book Synopsis Multi-objective Decision Analysis by : Clinton W. Brownley
Download or read book Multi-objective Decision Analysis written by Clinton W. Brownley and published by Business Expert Press. This book was released on 2013-03-28 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether managing strategy, operations or products, knowing how to make the best decision in a complex, uncertain business environment is difficult. You might be faced with multiple, competing objectives, which means making trade-offs. To complicate matters, any uncertainty makes it hard to explicitly understand how different objectives will impact potential outcomes. This book will help you face these problems. It provides a decision analysis framework implemented as a simple spreadsheet tool. This multi-objective decision analysis framework helps you to measure trade-offs among objectives and incorporate uncertainties and risk preferences. With this book, you will be able to identify what information is needed to make a decision, define how that information should be combined, and, finally, provide quantifiable evidence to clearly communicate and justify the decision. The process involves minimal overhead and is perfect for busy professionals who need a simple, structured process for making, tracking, and communicating decisions. This process makes decision making more efficient by focusing only on information and factors that are well-defined, measureable, and relevant to the decision at hand. The framework requires clear characterization of a decision, ensuring that it can be traced and is consistent with the intended objectives and organizational values. Using this structured decision-making framework, anyone can consistently make better decisions to gain competitive and strategic advantage.
Book Synopsis Implications and Impacts of eSports on Business and Society: Emerging Research and Opportunities by : Finch, David J.
Download or read book Implications and Impacts of eSports on Business and Society: Emerging Research and Opportunities written by Finch, David J. and published by IGI Global. This book was released on 2019-10-25 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global gaming market, due to numerous technological advancements in social media networking and live-streaming video, has exploded in recent years. However, this newly acquired popularity has left many industry professionals pondering a difficult enigma: How does this affect the professional world? Implications and Impacts of eSports on Business and Society: Emerging Research and Opportunities provides innovative research exploring the immersion of competitive electronic sports and applications within global marketing, business, and society. Featuring coverage on a broad range of topics such as social networking, sponsorship branding, and risk management, this book is ideally designed for sports and entertainment practitioners, communications professionals, marketers, business consultants, researchers, professionals, and students seeking current research on potential business opportunities in the eSports industry.
Book Synopsis Multiple Criteria Decision Making by Multiobjective Optimization by : Ignacy Kaliszewski
Download or read book Multiple Criteria Decision Making by Multiobjective Optimization written by Ignacy Kaliszewski and published by Springer. This book was released on 2016-08-02 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook approaches optimization from a multi-aspect, multi-criteria perspective. By using a Multiple Criteria Decision Making (MCDM) approach, it avoids the limits and oversimplifications that can come with optimization models with one criterion. The book is presented in a concise form, addressing how to solve decision problems in sequences of intelligence, modelling, choice and review phases, often iterated, to identify the most preferred decision variant. The approach taken is human-centric, with the user taking the final decision is a sole and sovereign actor in the decision making process. To ensure generality, no assumption about the Decision Maker preferences or behavior is made. The presentation of these concepts is illustrated by numerous examples, figures, and problems to be solved with the help of downloadable spreadsheets. This electronic companion contains models of problems to be solved built in Excel spreadsheet files. Optimization models are too often oversimplifications of decision problems met in practice. For instance, modeling company performance by an optimization model in which the criterion function is short-term profit to be maximized, does not fully reflect the essence of business management. The company’s managing staff is accountable not only for operational decisions, but also for actions which shall result in the company ability to generate a decent profit in the future. This calls for management decisions and actions which ensure short-term profitability, but also maintaining long-term relations with clients, introducing innovative products, financing long-term investments, etc. Each of those additional, though indispensable actions and their effects can be modeled separately, case by case, by an optimization model with a criterion function adequately selected. However, in each case the same set of constraints represents the range of company admissible actions. The aim and the scope of this textbook is to present methodologies and methods enabling modeling of such actions jointly.
Book Synopsis Techniques for Multiobjective Decision Making in Systems Management by : Ferenc Szidarovszky
Download or read book Techniques for Multiobjective Decision Making in Systems Management written by Ferenc Szidarovszky and published by . This book was released on 1986 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Sensitivity Analysis in Multi-objective Decision Making by : David Rios Insua
Download or read book Sensitivity Analysis in Multi-objective Decision Making written by David Rios Insua and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The axiomatic foundations of the Bayesian approach to decision making assurne precision in the decision maker's judgements. In practicc, dccision makers often provide only partial and/or doubtful information. We unify and expand results to deal with those cases introducing a general framework for sensitivity analysis in multi-objective decision making. We study first decision making problems under partial information. We provide axioms leading to modelling preferences by families of value functions, in problems under certainty, and moJelling beliefs by families of probability distributions and preferences by familics of utility functions, in problems under uncertainty. Both problems are treated in parallel with the same parametric model. Alternatives are ordered in a Pareto sense, the solution of the problem being the set of non dominated alternatives. Potentially optimal solutions also seem acceptable, from an intuitive point of view and due to their relation with the nondominated ones. Algorithms are provided to compute these solutions in general problems and in cases typical in practice: linear and bilinear problems. Other solution concepts are criticised on the grounds of being ad hoc. In summary, we have a more ro bust theory of decision making based on a weaker set ofaxioms, but embodying coherence, since it essentially implies carrying out a family of coherent dccision anitlyses.
Book Synopsis Uncertain Multi-Attribute Decision Making by : Zeshui Xu
Download or read book Uncertain Multi-Attribute Decision Making written by Zeshui Xu and published by Springer. This book was released on 2015-02-05 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces methods for uncertain multi-attribute decision making including uncertain multi-attribute group decision making and their applications to supply chain management, investment decision making, personnel assessment, redesigning products, maintenance services, military system efficiency evaluation. Multi-attribute decision making, also known as multi-objective decision making with finite alternatives, is an important component of modern decision science. The theory and methods of multi-attribute decision making have been extensively applied in engineering, economics, management and military contexts, such as venture capital project evaluation, facility location, bidding, development ranking of industrial sectors and so on. Over the last few decades, great attention has been paid to research on multi-attribute decision making in uncertain settings, due to the increasing complexity and uncertainty of supposedly objective aspects and the fuzziness of human thought. This book can be used as a reference guide for researchers and practitioners working in e.g. the fields of operations research, information science, management science and engineering. It can also be used as a textbook for postgraduate and senior undergraduate students.
Book Synopsis Multi-Criteria Decision Making by : Jitesh J. Thakkar
Download or read book Multi-Criteria Decision Making written by Jitesh J. Thakkar and published by Springer Nature. This book was released on 2021-02-08 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: p="" The book covers the domain of multi-criteria decision making, a topic which has gained significant attention of researchers and practitioners spanning a variety of disciplines for enhancing their decision making in real life situation. The topics in this volume help readers understand the techniques in the model building and analysis stage. The chapters cover a variety of techniques and their applications for interesting problems. This book will be of interest to readers in diverse disciplines such as engineering, business, management, humanities, psychology and law. ^
Book Synopsis Multi-objective Decision Making by : Simon French
Download or read book Multi-objective Decision Making written by Simon French and published by . This book was released on 1983 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Objectives and Multi-Objective Decision Making Under Uncertainty by : J. Wilhelm
Download or read book Objectives and Multi-Objective Decision Making Under Uncertainty written by J. Wilhelm and published by Springer. This book was released on 2012-03-02 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Evangelos Triantaphyllou Publisher :Springer Science & Business Media ISBN 13 :1475731574 Total Pages :307 pages Book Rating :4.4/5 (757 download)
Book Synopsis Multi-criteria Decision Making Methods by : Evangelos Triantaphyllou
Download or read book Multi-criteria Decision Making Methods written by Evangelos Triantaphyllou and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Multi-Criteria Decision Making (MCDM) has been one of the fastest growing problem areas in many disciplines. The central problem is how to evaluate a set of alternatives in terms of a number of criteria. Although this problem is very relevant in practice, there are few methods available and their quality is hard to determine. Thus, the question `Which is the best method for a given problem?' has become one of the most important and challenging ones. This is exactly what this book has as its focus and why it is important. The author extensively compares, both theoretically and empirically, real-life MCDM issues and makes the reader aware of quite a number of surprising `abnormalities' with some of these methods. What makes this book so valuable and different is that even though the analyses are rigorous, the results can be understood even by the non-specialist. Audience: Researchers, practitioners, and students; it can be used as a textbook for senior undergraduate or graduate courses in business and engineering.
