Efficiency versus Sustainability in Dynamic Decision Making: Advances in Intertemporal Compromising (Lecture Notes in Economics and Mathematical Systems)

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Efficiency versus Sustainability in Dynamic Decision Making: Advances in Intertemporal Compromising (Lecture Notes in Economics and Mathematical Systems)

by Bodo Glaser

Publisher: Springer
Publication Date: Tuesday, September 17, 2002
Number of Pages: 252
ISBN: 3540439064

Book Summary:
This book develops and analyzes dynamic decision models (DDM) with one trajectoral objective according to the methodology of multi-criteria decision making (MCDM). Moreover, DDMs which concomitantly pursue multiple objectives are analyzed, with special emphasis given to hybrid models with scalar and trajectorial objectives as well as models with multiple trajectorial objectives. Introducing the method of distance maximization crucially augments MCDM and proves to be invaluable for DDMs with nonexistent utopia trajectory or with sustainability as objective. The notions of efficiency and sustainability are formally developed and counterposed by means of the construct of trajectorial objective, which is presented here, along with its implications, as a natural advance upon the classical scalar objective.

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Last Updated: 24 November 2007.