An interactive approach to the stochastic multiobjective allocation problem
AbstractThe paper considers the stochastic multiobjective allocation problem. An assumption is made that a particular resource should be allocated to T projects. The specified level of each goal (along with the known probabilities) can be obtained based on the amount of the resources allocated. We will propose an identification strategy procedure that the decision maker can implement. Our technique combines multiobjective dynamic programming and an interactive approach. First, efficient strategies are identified using Bellman's principle applied to the multiobjective problem. Next, a dialog procedure is used to find a solution that is satisfactory for the decision maker. A numerical example is presented to show how the procedure can be applied.
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).