On the equivalence between compromise programming and the use of composite compromise metrics

Francisco André and Carlos Romero ()
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Carlos Romero: Departamento de Economía y Gestión Forestal, Escuela Tecnica Superior de Ingenieros de Montes, Universidad Politécnica de Madrid.

No 06.33, Working Papers from Universidad Pablo de Olavide, Department of Economics

Abstract: This paper analyzes the relationship between Compromise Programming and a close relative called Composite Programming that is based on the use of composite metrics. More specifically, it focuses on the possibility that the results of Compromise Programming are equivalent to those obtained with a particular case of Composite Programming in which a linear combination between the two bounds of the compromise set is established. Several situations, depending on the number of criteria involved and the mathematical structure of the efficient set, are studied. The most relevant result is obtained when two criteria are involved and the efficient set is continuously differentiable. In this case, it is possible to find a unique equivalent value of the control parameter in Composite Programming for each metric in Compromise Programming. It is remarked that this particular case is very relevant in many economic scenarios. On the other hand, it turns out that the equivalence between both approaches can not be extended to the case with more than two criteria.

Keywords: Compromise programming; composite metric; p-norms; economic optimization. (search for similar items in EconPapers)
JEL-codes: C61 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2006-12
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pab:wpaper:06.33

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