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A VALUE FOR PERT PROBLEMS

Gustavo Bergantiños and Juan Vidal-Puga
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Gustavo Bergantiños: Research Group in Economic Analysis, Universidade de Vigo, Spain

International Game Theory Review (IGTR), 2009, vol. 11, issue 04, 419-436

Abstract: The PERT (Program Evaluation Review Technique) is a operational research tool used to schedule and coordinate activities in a complex project. We present two values for measuring the importance of each activity. Both values are obtained through an axiomatic characterization using three properties. The first value is characterized with separability, monotonicity, and order preservation. The second value is characterized with separability, equal treatment inside a component, and independence of large durations. We also present an application to the problem of how to share the surplus obtained when a project finishes before the expected completion time.

Keywords: PERT problem; value; game theory (search for similar items in EconPapers)
JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2009
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