Analytical Evaluation of Multi-Criteria Heuristics

Richard L. Daniels
Additional contact information
Richard L. Daniels: Fuqua School of Business, Duke University, Durham, North Carolina 27706

Management Science, 1992, vol. 38, issue 4, 501-513

Abstract: This paper considers the problem of evaluating the solution quality of multi-criteria heuristics. By assuming an additive multi-attribute value structure, efficient and heuristic solutions can be translated into value measures that depend only on the relative importance assigned to the criteria of interest. Approximation errors are then defined as the value penalty incurred by approximating an efficient solution with its heuristic alternative. Results are derived which can be used to eliminate solutions that cannot represent the best available alternative among the set of efficient and heuristic solutions. For the bicriterion case, a polynomial algorithm for determining the mean and maximum relative heuristic error for a given problem instance is presented. For more general multi-criteria problems, the maximum relative approximation error can be determined by solving a series of linear programming problems.

Keywords: multi-criteria decision making; heuristics (search for similar items in EconPapers)
Date: 1992
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://dx.doi.org/10.1287/mnsc.38.4.501 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:38:y:1992:i:4:p:501-513

Access Statistics for this article

More articles in Management Science from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().