RIS ID
103409
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.
Publication Details
Aouni, B., Colapinto, C., La Torre, D., Liuzzi, D. & Marsiglio, S. (2015). On dynamic multiple criteria decision making models: A goal programming approach. In M. Al-Shammari & H. Masri (Eds.), Multiple criteria decision making in finance, insurance and investment (pp. 31-48). Switzerland: Springer International Publishing.