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The stochastic goal programming model: Theory and applications

Author

Listed:
  • Belaid Aouni
  • Fouad Ben Abdelaziz

    (Pôle de Recherche - Rouen Business School - Rouen Business School)

  • Davide La Torre

Abstract

Supported by a network of researchers and practitioners, the goal programming (GP) model is alive today more than ever and is continually fed with theoretical developments and new applications with resounding success. The standard formulation of the GP model was introduced in the earliest of 1960s, and since then, important extensions and numerous applications have been proposed. One of these variants is the stochastic GP model that deals with the uncertainty of some decision-making situations by using stochastic calculus. In such a situation, the decision maker is not able to assess with certainty the different parameters. However, he or she can provide some information regarding the likelihood of occurrence of the decision-making parameter values. The aim of this paper is to highlight the main methodological developments of the stochastic GP model and to present an overview of its applications in several domains.

Suggested Citation

  • Belaid Aouni & Fouad Ben Abdelaziz & Davide La Torre, 2012. "The stochastic goal programming model: Theory and applications," Post-Print hal-00778729, HAL.
    • Handle: RePEc:hal:journl:hal-00778729
    DOI: 10.1002/mcda.1466
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    Citations

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    Cited by:

    1. Cinzia Colapinto & Raja Jayaraman & Simone Marsiglio, 2017. "Multi-criteria decision analysis with goal programming in engineering, management and social sciences: a state-of-the art review," Annals of Operations Research, Springer, vol. 251(1), pages 7-40, April.
    2. Raja Jayaraman & Cinzia Colapinto & Danilo Liuzzi & Davide Torre, 2017. "Planning sustainable development through a scenario-based stochastic goal programming model," Operational Research, Springer, vol. 17(3), pages 789-805, October.
    3. Zhongfeng Qin, 2018. "Uncertain random goal programming," Fuzzy Optimization and Decision Making, Springer, vol. 17(4), pages 375-386, December.
    4. Konstantinos Kokkinos & Vayos Karayannis, 2020. "Supportiveness of Low-Carbon Energy Technology Policy Using Fuzzy Multicriteria Decision-Making Methodologies," Mathematics, MDPI, vol. 8(7), pages 1-26, July.
    5. Hocine, Amine, 2018. "Meta goal programing approach for solving multi-criteria de Novo programing problemAuthor-Name: Zhuang, Zheng-Yun," European Journal of Operational Research, Elsevier, vol. 265(1), pages 228-238.
    6. Hocine, Amine & Kouaissah, Noureddine & Bettahar, Samir & Benbouziane, Mohamed, 2018. "Optimizing renewable energy portfolios under uncertainty: A multi-segment fuzzy goal programming approach," Renewable Energy, Elsevier, vol. 129(PA), pages 540-552.
    7. Jang Ho Kim & Yongjae Lee & Woo Chang Kim & Frank J. Fabozzi, 2022. "Goal-based investing based on multi-stage robust portfolio optimization," Annals of Operations Research, Springer, vol. 313(2), pages 1141-1158, June.
    8. Hocine, Amin & Zhuang, Zheng-Yun & Kouaissah, Noureddine & Li, Der-Chiang, 2020. "Weighted-additive fuzzy multi-choice goal programming (WA-FMCGP) for supporting renewable energy site selection decisions," European Journal of Operational Research, Elsevier, vol. 285(2), pages 642-654.
    9. Aouni, Belaid & Colapinto, Cinzia & La Torre, Davide, 2014. "Financial portfolio management through the goal programming model: Current state-of-the-art," European Journal of Operational Research, Elsevier, vol. 234(2), pages 536-545.
    10. Álvarez-Miranda, Eduardo & Garcia-Gonzalo, Jordi & Ulloa-Fierro, Felipe & Weintraub, Andrés & Barreiro, Susana, 2018. "A multicriteria optimization model for sustainable forest management under climate change uncertainty: An application in Portugal," European Journal of Operational Research, Elsevier, vol. 269(1), pages 79-98.
    11. William Seitz & D La Torre, 2014. "Modelling Investment Optimization on Smallholder Farms through Multi-criteria Decision Approaches: An Example from Ethiopia," CSAE Working Paper Series 2014-06, Centre for the Study of African Economies, University of Oxford.
    12. Irfan Ali & Umar Muhammad Modibbo & Jahangir Chauhan & Maryam Meraj, 2021. "An integrated multi-objective optimization modelling for sustainable development goals of India," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(3), pages 3811-3831, March.
    13. Justin L Anderson & Jessica M Astudillo & Zachary E Butcher & Matthew D Cornman & Anthony J Correale & James B Crumpacker & Nathaniel C Dennie & Alex R Gaines & Mark A Gallagher & John C Goodwill & Em, 2023. "Stochastic preemptive goal programming of Air Force weapon systems mix," The Journal of Defense Modeling and Simulation, , vol. 20(2), pages 147-158, April.
    14. Jayaraman, Raja & Colapinto, Cinzia & Torre, Davide La & Malik, Tufail, 2015. "Multi-criteria model for sustainable development using goal programming applied to the United Arab Emirates," Energy Policy, Elsevier, vol. 87(C), pages 447-454.
    15. Álvarez-Miranda, Eduardo & Garcia-Gonzalo, Jordi & Pais, Cristobal & Weintraub, Andrés, 2019. "A multicriteria stochastic optimization framework for sustainable forest decision making under uncertainty," Forest Policy and Economics, Elsevier, vol. 103(C), pages 112-122.
    16. Umar Muhammad Modibbo & Irfan Ali & Aquil Ahmed, 2021. "Multi-objective optimization modelling for analysing sustainable development goals of Nigeria: Agenda 2030," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(6), pages 9529-9563, June.
    17. Cinzia Colapinto & Danilo Liuzzi & Simone Marsiglio, 2017. "Sustainability and intertemporal equity: a multicriteria approach," Annals of Operations Research, Springer, vol. 251(1), pages 271-284, April.

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