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

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Author Info
Rafael Caballero (Department of Applied Economics (Mathematics), University of Málaga, Spain.)
Emilio Cerdá (Department of Foundations of Economic Analysis, University Complutense of Madrid, Spain.)
Mª del Mar Muñoz (Department of Applied Economics (Mathematics), University of Málaga, Spain.)
Lourdes Rey (Department of Applied Economics (Mathematics), University of Málaga, Spain.)

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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.

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Paper provided by Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales in its series Documentos del Instituto Complutense de Análisis Económico with number 0217.

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Date of creation: 2002
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Handle: RePEc:ucm:doicae:0217

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  1. Emilio Cerdá & Julio Moreno Lorente, 2009. "Chance Constrained Programming with one Discrete Random Variable in Each Constraint," Working Papers 2009-05, FEDEA. [Downloadable!]
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This page was last updated on 2009-12-13.


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