Risk‐based multiobjective resource allocation in hierarchical systems with multiple decisionmakers. Part I: Theory and methodology

Zhenyu Yan and Yacov Y. Haimes

Systems Engineering, 2011, vol. 14, issue 1, 1-16

Abstract: This paper sets forth a resource allocation process for mitigating the risks that natural disasters, accidents, or willful attacks pose to large‐scale hierarchical systems. Such systems are typically comprised of plural decisionmakers at each organizational level, each with multiple risk management objectives. In this paper, we propose a Multiobjective Multi‐Decisionmaker Resource Allocation (MOMDRA) framework to model this process; we also offer a discussion of risk modeling methods under the MOMDRA framework. Furthermore, using a Hierarchical Multiobjective (HMO) approach, this paper derives strategies for generating Pareto optimal resource allocation options for different cases of decisionmakers. An illustrative example demonstrates the effectiveness of the MOMDRA framework in risk‐based modeling and decisionmaking within large‐scale hierarchical systems. © 2010 Wiley Periodicals, Inc. Syst Eng 14: 1–16, 2011

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:wly:syseng:v:14:y:2011:i:1:p:1-16

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