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.
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Aouni, B., Colapinto, C., La Torre, D., Liuzzi, D., Marsiglio, S. (2015). On Dynamic Multiple Criteria Decision Making Models: A Goal Programming Approach. In: Al-Shammari, M., Masri, H. (eds) Multiple Criteria Decision Making in Finance, Insurance and Investment. Multiple Criteria Decision Making. Springer, Cham. https://doi.org/10.1007/978-3-319-21158-9_3
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DOI: https://doi.org/10.1007/978-3-319-21158-9_3
Publisher Name: Springer, Cham
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