A Compact Representation of Preferences in Multiple Criteria Optimization Problems

Francisco Salas-Molina, David Pla-Santamaria, Ana Garcia-Bernabeu and Javier Reig-Mullor
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David Pla-Santamaria: Department of Economics and Social Sciences, Higher Polytechnic School of Alcoi, Universitat Politècnica de València, Ferrándiz y Carbonell, 03801 Alcoi, Spain
Ana Garcia-Bernabeu: Department of Economics and Social Sciences, Higher Polytechnic School of Alcoi, Universitat Politècnica de València, Ferrándiz y Carbonell, 03801 Alcoi, Spain
Javier Reig-Mullor: Department of Economics and Financial Studies, Faculty of Social Sciences and Law, Universitas Miguel Hernández, 03202 Elche, Spain

Mathematics, 2019, vol. 7, issue 11, 1-16

Abstract: A critical step in multiple criteria optimization is setting the preferences for all the criteria under consideration. Several methodologies have been proposed to compute the relative priority of criteria when preference relations can be expressed either by ordinal or by cardinal information. The analytic hierarchy process introduces relative priority levels and cardinal preferences. Lexicographical orders combine both ordinal and cardinal preferences and present the additional difficulty of establishing strict priority levels. To enhance the process of setting preferences, we propose a compact representation that subsumes the most common preference schemes in a single algebraic object. We use this representation to discuss the main properties of preferences within the context of multiple criteria optimization.

Keywords: subjective preferences; analytic hierarchy process; lexicographic orders; powerset (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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