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Multiple Criteria Decision Making by Multiobjective Optimization

A Toolbox

  • Ignacy Kaliszewski
  • Janusz Miroforidis
  • Dmitry Podkopaev

Part of the International Series in Operations Research & Management Science book series (ISOR, volume 242)

Table of contents

  1. Front Matter
    Pages i-xxii
  2. Ignacy Kaliszewski, Janusz Miroforidis, Dmitry Podkopaev
    Pages 1-13
  3. Ignacy Kaliszewski, Janusz Miroforidis, Dmitry Podkopaev
    Pages 15-18
  4. Ignacy Kaliszewski, Janusz Miroforidis, Dmitry Podkopaev
    Pages 19-23
  5. Ignacy Kaliszewski, Janusz Miroforidis, Dmitry Podkopaev
    Pages 25-35
  6. Ignacy Kaliszewski, Janusz Miroforidis, Dmitry Podkopaev
    Pages 37-42
  7. Ignacy Kaliszewski, Janusz Miroforidis, Dmitry Podkopaev
    Pages 43-49
  8. Ignacy Kaliszewski, Janusz Miroforidis, Dmitry Podkopaev
    Pages 51-59
  9. Ignacy Kaliszewski, Janusz Miroforidis, Dmitry Podkopaev
    Pages 61-71
  10. Ignacy Kaliszewski, Janusz Miroforidis, Dmitry Podkopaev
    Pages 73-96
  11. Ignacy Kaliszewski, Janusz Miroforidis, Dmitry Podkopaev
    Pages 97-102
  12. Ignacy Kaliszewski, Janusz Miroforidis, Dmitry Podkopaev
    Pages 103-109
  13. Back Matter
    Pages 111-118

About this book

Introduction

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.

Keywords

Multiple Criteria Decision Making Multicriteria Optimization Pareto Optimality Multi Aspect Decision Environment Variant Portfolio Selection Decision Making MCDM Multiobjective Optimization

Authors and affiliations

  • Ignacy Kaliszewski
    • 1
  • Janusz Miroforidis
    • 2
  • Dmitry Podkopaev
    • 3
  1. 1.Systems Research InstitutePolish Academy of Sciences Systems Research InstituteWarszawaPoland
  2. 2.Systems Research InstitutePolish Academy of Sciences Systems Research InstituteWrocławPoland
  3. 3.Systems Research InstitutePolish Academy of Sciences Systems Research InstituteWarszawaPoland

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-32756-3
  • Copyright Information Springer International Publishing Switzerland 2016
  • Publisher Name Springer, Cham
  • eBook Packages Business and Management
  • Print ISBN 978-3-319-32755-6
  • Online ISBN 978-3-319-32756-3
  • Series Print ISSN 0884-8289
  • Series Online ISSN 2214-7934
  • Buy this book on publisher's site