Dynamic multiple criteria decision making (DMCDM) represents an extension of classical multiple criteria decision making to a context in which all variables are depending on time. This complex decision making problem requires the development of methodologies able to incorporate different and conflicting goals in a satisfying design of policies. We formulate two different goal programming models, namely a weighted goal programming model and a goal programming model with satisfaction functions, for solving DMCDM models. We present an application of this methodology to analyze the trade-off between consumption and investment in a traditional Ramsey-type macroeconomic model with heterogeneous agents. For a specific realistic parameterization, such a model is solved by means of the proposed goal programming formulations.
On dynamic multiple criteria decision making models: a goal programming approach
Marsiglio S
2015-01-01
Abstract
Dynamic multiple criteria decision making (DMCDM) represents an extension of classical multiple criteria decision making to a context in which all variables are depending on time. This complex decision making problem requires the development of methodologies able to incorporate different and conflicting goals in a satisfying design of policies. We formulate two different goal programming models, namely a weighted goal programming model and a goal programming model with satisfaction functions, for solving DMCDM models. We present an application of this methodology to analyze the trade-off between consumption and investment in a traditional Ramsey-type macroeconomic model with heterogeneous agents. For a specific realistic parameterization, such a model is solved by means of the proposed goal programming formulations.File | Dimensione | Formato | |
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