Fundamentals of Multiobjective Optimization

Mikuláš Luptáčik () and Klaus Prettner
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Mikuláš Luptáčik: WU Vienna University of Economics and Business, Department of Economics

Chapter 7 in Mathematical Optimization and Economic Analysis, 2026, pp 239-269 from Springer

Abstract: Abstract Multiobjective optimization addresses decisions involving multiple, often conflicting, goals. This chapter introduces fundamental concepts such as Pareto optimality, trade-offs between objectives, and duality for multiobjective optimization problems. The chapter then illustrates how such models reflect real-world complexity in areas such as the design of policies, where efficiency, equity, and sustainability must be balanced. In the model of the firm facing a bicriteria objective function (maximization of the profit and the revenue) it can be shown that rate of return types of regulation lead to a suboptimal use of production factors.

Date: 2026
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DOI: 10.1007/978-1-0716-5076-9_7

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