A Genetic Search for Exploiting a Fuzzy Preference Model of Portfolio Problems with Public Projects

Eduardo Fernandez and Jorge Navarro ()

Annals of Operations Research, 2002, vol. 117, issue 1, 213 pages

Abstract: When an organization solves a portfolio problem with public projects evaluated by multiple criteria, in which the economic dimension is not essential or not well characterized, the classical methods are not useful. We propose a non-linear preference model developed from normative Value Theory and using fuzzy sets to model some sources of imprecision. This model can be considered as a generalization of the classical approaches. However, the optimization problem is very complex in order to be solved with non-linear programming techniques. Therefore, the model is exploited by an evolutionary algorithm, able to achieve a strong improvement of the quality of solution. Copyright Kluwer Academic Publishers 2002

Keywords: public projects; evolutionary algorithm; portfolio problem; fuzzy sets; multicriteria decision (search for similar items in EconPapers)
Date: 2002
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DOI: 10.1023/A:1021577608097

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