Stochastic Approach versus Multiobjective Approach for Obtaining Efficient Solutions in Stochastic Multiobjective Programming Problems

Rafael Caballero, Emilio Cerdá, del Mar Muñoz Mª and Lourdes Rey
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Rafael Caballero: Department of Applied Economics (Mathematics), University of Málaga, Spain.
del Mar Muñoz Mª: Department of Applied Economics (Mathematics), University of Málaga, Spain.
Lourdes Rey: Department of Applied Economics (Mathematics), University of Málaga, Spain.

Documentos de Trabajo del ICAE from Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico

Abstract: In this work, we deal with obtaining efficient solutions for stochastic multiobjective programming problems. In general, these solutions are obtained in two stages: in one of them, the stochastic problem is transformed into its equivalent deterministic problem, and in the other one, some of the existing generating techniques in multiobjective programming are applied to obtain efficient solutions, which involves transforming the multiobjective problem into a problem with only one objective function. Our aim is to determine whether the order in which these two transformations are carried out influences, in any way, the efficient solution obtained. Our results show that depending on the type of stochastic criterion followed and the statistical characteristics of the initial problem, the order can have an influence on the final set of efficient solutions obtained for a given problem.

Keywords: Stochastic Multiobjective Programming; Efficiency; Stochastic Approach; Multiobjective Approach. (search for similar items in EconPapers)
Pages: pages 30
Date: 2002
New Economics Papers: this item is included in nep-rmg
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Journal Article: Stochastic approach versus multiobjective approach for obtaining efficient solutions in stochastic multiobjective programming problems (2004)
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