Decision quality using ranked attribute weights

Article Abstract:

Three rank-based formulae for determining approximate weights are evaluated in terms of the quality of the decisions generated from the particular weights. They are identified as rank-sum (RS) weights, reciprocal of the ranks (RR) weights and rank-order centroid weights. The efficacious performance of the formulae in selecting the best multiattribute alternative is unexpectedly observed, with each one offering substantially improved decision quality as compared to the default option of equal weights. The ROC weights are more precise than the two other rank-based formulae. In addition, the ROC formulae generalized to include other forms of partial information about attribute weights as well as partial rank order information. The ROC is a recommendable implementation tool because its analysis is very direct and efficacious.

Ranking and selection (Statistics)

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Soviet multi-objective mathematical programming methods: an overview

Article Abstract:

An extensive overview of Soviet methods in multi-objective mathematical programming (MOMP) is provided with the methods classified based on the decision maker and the kind of data involved in the process. The 17 methods discussed are either of priori-, interactive-, posteriori-, or no articulation of preferences. Diversity in methodology comparable to the West is displayed by these Soviet programming techniques. Soviet methods have evolved independently of their western counterparts, despite parallel research directions. A number of methods in Soviet MOMP research draw strongly from the optimal control theory.

Operations research, Methods, Management science, Science and technology policy, Soviet Union, Optimization theory, Mathematical programming, Control theory

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A multiple-objective programming technique for structuring tax-exempt serial revenue debt issues

Article Abstract:

A multi-objective decision model is used to develop a goal programming (GP) framework for tax-exempt serial revenue debt issues. The actual debt bond structured through the GP model presented is for a Midwestern district's electric system. The GP model is used to formulate a schedule for assigning coupon rates and scheduling maturities for municipal bonds with reference to goals involving marketability, interest's true cost, coverage and level of debt, and production. The model serves as a highly adaptive and coactive instrument in decision making, particularly in low-risk, cost-efficient bond development.

Management, Municipal bonds, Revenue bonds

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