An axiomatization of the Euclidean compromise solution
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.
|Date of creation:||13 Oct 2008|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +46-(0)8-736 90 00
Fax: +46-(0)8-31 01 57
Web page: http://www.hhs.se/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lensberg, Terje, 1988. "Stability and the Nash solution," Journal of Economic Theory, Elsevier, vol. 45(2), pages 330-341, August.
- Rubinstein, Ariel & Zhou, Lin, 1999.
"Choice problems with a 'reference' point,"
Mathematical Social Sciences,
Elsevier, vol. 37(3), pages 205-209, May.
- Thomson, W., 1996. "Consistent Allocation Rules," RCER Working Papers 418, University of Rochester - Center for Economic Research (RCER).
- P. L. Yu, 1973. "A Class of Solutions for Group Decision Problems," Management Science, INFORMS, vol. 19(8), pages 936-946, April.
- Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May.
- M. Freimer & P. L. Yu, 1976. "Some New Results on Compromise Solutions for Group Decision Problems," Management Science, INFORMS, vol. 22(6), pages 688-693, February.
- Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
- Andreas Pfingsten & Andreas Wagener, 2003. "Bargaining Solutions as Social Compromises," Theory and Decision, Springer, vol. 55(4), pages 359-389, December.
When requesting a correction, please mention this item's handle: RePEc:hhs:hastef:0703. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helena Lundin)
If references are entirely missing, you can add them using this form.