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Axiomatizations of the Euclidean compromise solution

Author

Listed:
  • M. Voorneveld
  • A. Nouweland
  • R. McLean

Abstract

The utopia point of a multicriteria optimization problem is the vector that specifies for each criterion the most favourable among the feasible values. The Euclidean compromise solution in multicriteria optimization is a solution concept that assigns to a feasible set the alternative with minimal Euclidean distance to the utopia point. The purpose of this paper is to provide a characterization of the Euclidean compromise solution. Consistency plays a crucial role in our approach.
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Suggested Citation

  • M. Voorneveld & A. Nouweland & R. McLean, 2011. "Axiomatizations of the Euclidean compromise solution," International Journal of Game Theory, Springer;Game Theory Society, vol. 40(3), pages 427-448, August.
    • Handle: RePEc:spr:jogath:v:40:y:2011:i:3:p:427-448
    DOI: 10.1007/s00182-010-0240-z
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    References listed on IDEAS

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    Cited by:

    1. William Thomson, 2022. "On the axiomatic theory of bargaining: a survey of recent results," Review of Economic Design, Springer;Society for Economic Design, vol. 26(4), pages 491-542, December.
    2. Büsing, Christina & Goetzmann, Kai-Simon & Matuschke, Jannik & Stiller, Sebastian, 2017. "Reference points and approximation algorithms in multicriteria discrete optimization," European Journal of Operational Research, Elsevier, vol. 260(3), pages 829-840.
    3. Christian Roessler, 2006. "Public Good Menus and Feature Complementarity," Department of Economics - Working Papers Series 962, The University of Melbourne.

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    More about this item

    Keywords

    Multiobjective optimization; Compromise solution; Bargaining theory;
    All these keywords.

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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