Goal programming

About: Goal programming is a research topic. Over the lifetime, 4330 publications have been published within this topic receiving 117758 citations.

A fuzzy multi-objective approach for sustainable investments

Abstract: This paper develops models for selecting portfolios for conventional and socially responsible investment (SRI) mutual funds according to the preferences of the SRI investor. This involves constructing an investment portfolio that takes into account both financial and social, environmental and ethical (SEE) criteria. The optimal portfolio selection problem is solved when the expected returns of the assets as well as the periodic returns are not precisely known. Instead, incomplete information on the parameters of the model is modeled by fuzzy numbers, which include the 'true' values and are consistent with the Decision Maker's beliefs on assets' performance. In this paper, the financial criteria taken into account are the expected return and the difference between the returns of the portfolio and a pre-specified benchmark index i.e. a strategy of tracking error (TE) is followed. Moreover, we assume that the investor's preferences about SEE features of the portfolio are imprecisely known. In order to model these flexible preferences we propose to use fuzzy decision making. The multidimensional nature of the problem leads us to work with techniques of multiple criteria decision making (MCDM), namely goal programming (GP), and the incomplete information is handled by a fuzzy robust approach. The proposed fuzzy goal programming (FGP) model is applied to a database of UK mutual funds.

A Two‐stage Model for Structuring Global Facility Site Selection Decisions

Abstract: A critical concern for firms pursuing global expansion strategies involves facility site evaluation and selection. For expansion to be successful, corporations must identify countries and facility sites that offer a good fit with the firm′s overall corporate strategy. Unfortunately, little has been written to aid corporations in making these complex decisions. Presents a two‐stage model that combines the concepts of strategic management, the management science technique of goal programming, and micro computer technology to provide managers with a more effective and efficient method for evaluating global facility sites and making selection decisions. Extends the existing literature on corporate facility site evaluation by applying a computer optimization model to facility site acquisition in a way that has not been done before.

Transitive approximation to pairwise comparison matrices by using interval goal programming

Abstract: Paired comparison is a very popular method for establishing the relative importance of n objects, when they cannot be directly rated. The challenge faced by the pairwise comparison method stems from some missing properties in its associated matrix. In this paper, we focus on the following general problem: given a non-reciprocal and inconsistent matrix computing intransitivities, what is its associated ranking (defined by importance values)? We propose to use inconsistencies as a source of information for obtaining importance values. For this purpose, a methodology with a decomposition and aggregation phase is proposed. Interval Goal Programming will be a useful tool for implementing the aggregation process defined in the second phase.

A Comparative Study of Multiobjective Optimization Methods in Structural Design

Abstract: The computational algorithms of different multiobjective optimization techniques and their applications to structural systems are presented. The weighting, e -constraint, goal programming and modified game theory methods are described along with a comparative study of the results. The conflicting nature of the objective functions is studied through two multiobjective optimization problems. Specifically, the design of a 25-bar space truss and that of a satellite with flexible appendages are considered in numerical studies. The results from the multiobjective optimization methods are evaluated in terms of a supercriterion. It is concluded that the results obtained using the goal programming and modified game theory/goal programming approaches are properly balanced yielding the best compromise in the presence of conflicting objectives.