Weight flexibility is the main reason why the traditional DEA models can't be directly used in ranking. The current paper proposes a multi-objective DEA model to derive common weights to weaken or eliminate the we...
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ISBN:
(纸本)9780769538761
Weight flexibility is the main reason why the traditional DEA models can't be directly used in ranking. The current paper proposes a multi-objective DEA model to derive common weights to weaken or eliminate the weight flexibility. In out proposed approach the obtained common weights can be accepted by at least half of all decision making units. The proposed technique is used in the university evaluation in China.
Purpose - The main motive behind framing this paper is to provide a compromised solution for trapezoidal fuzzy number-multi-objective fully quadratic fractional optimisation model (TrFN-MOFQFOM) by avoiding ambiguitie...
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Purpose - The main motive behind framing this paper is to provide a compromised solution for trapezoidal fuzzy number-multi-objective fully quadratic fractional optimisation model (TrFN-MOFQFOM) by avoiding ambiguities and confusion of decision-makers (DMs). Many researchers have used Taylor's series and parametric approach to transform fractional objective function into non-fractional ones, but Taylor's series expansion is valid only up to a neighbourhood. To avoid these extra efforts, this article suggests a methodology in which numerator of objective function is optimised under the condition of optimising denominator. Design/methodology/approach - This paper suggests an efficient procedure to search for compromised solution of MOFQFOM with fuzzy coefficients using alpha-level set and FGP approach. Incomplete data in model is dealt with alpha-level set. Then after defuzzification, non-fractional models are built from fractional model to get optimal solution of every objective. Finally, the linear weighted sum of negative deviational variables is minimised to satisfy all objective functions up to maximum possible extent. Findings - On applying suggested approach to the example given in end, the authors arrived at compromised solution having mu(O1) (O-1(x)) =1 and mu(O2) (O-2(x)) = 0.71. The applied procedure requires less computational efforts and provides the preferred compromised solution. Originality/value - This work has not been done previously by anyone. The idea being developed here of constructing non-fractional model by dealing numerators and denominators separately is completely new. 10;In the end, an algorithm, flowchart and numerical are also given to clarify the applicability of the suggested approach.
Voltage/VAR control (VVC) methods implemented by on-load tap-changers, capacitor banks and photovoltaic (PV) associated inverters can efficiently maintain power quality (reduce voltage deviation) and reduce energy los...
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ISBN:
(纸本)9781728119816
Voltage/VAR control (VVC) methods implemented by on-load tap-changers, capacitor banks and photovoltaic (PV) associated inverters can efficiently maintain power quality (reduce voltage deviation) and reduce energy loss for active distribution networks (ADNs). However, minimization of voltage deviation is in competition with minimization of energy loss. Besides, uncertainties such as PV power generation and load demand impair control results. To address these issues, this paper proposes a multi-objective VVC model based on a multi-stage coordination framework for ADNs, aiming to minimize voltage deviation and energy loss simultaneously. More importantly, this paper proposes a multi-objective robust optimization approach to robustly optimize the multi-objective VVC model against uncertainties. Correspondingly, a solution algorithm based on adaptive weighted-sum and column-and-constraint generation algorithms is developed to solve the multi-objective robust optimization problem. Simulation results show well distributed solutions and high solution robustness of the proposed multi-objective robust VVC against uncertainties.
In order to achieve the minimum amount of car carriers and the shortest driving path, this paper analyzes the actual constraints that passenger cars loading need to satisfy, and then builds the multi-objective integer...
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ISBN:
(纸本)9781467397148
In order to achieve the minimum amount of car carriers and the shortest driving path, this paper analyzes the actual constraints that passenger cars loading need to satisfy, and then builds the multi-objective integer programming model of the design of the optimization scheme about passenger cars logistics loading and it also designs a heuristic algorithm of the problem, which are all used to solve practical problems.
Purpose - The purpose of this paper is to split loan customers to different credit ratings to ensure the results that show that customers with lower credit ratings have higher loss rates, and the number of customers t...
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Purpose - The purpose of this paper is to split loan customers to different credit ratings to ensure the results that show that customers with lower credit ratings have higher loss rates, and the number of customers that satisfies the bell-shaped distribution. Hence, the number of credit ratings, the distribution of the rated obligors among ratings can achieve a meaningful differentiation of risk, which can avoid the loan pricing confusion. Design/methodology/approach - The authors introduce a multi-objective programming to establish the credit rating model. objective function 1 minimizes the absolute difference between the obligor number proportion and perfect client proportion, following a standard normal distribution. objective function 2 minimizes the total difference of the deviation between two adjacent credit ratings' loss rates. This study combines the two objective functions to ensure the obligor number distribution and the monotonicity of the loss rate, and applies genetic algorithm to solve the model. Findings - This study's analysis is based on data from 6,155 enterprises, provided by a Chinese bank and Prosper P2P loan data. The empirical results reveal that the proposed approach can ensure the balance between both criteria and avoid undue concentration of obligors in particular grades. Originality/value - The proposed credit model could help building a reasonable credit rating system, which is the prerequisite of loan pricing;thus, inaccurate credit rating can cause incorrect loss rate estimates and loan pricing.
This paper presents a novel framework for selecting socially responsible investment (SRI) portfolios. The Hedonic Price Method (HPM) is applied to obtain an evaluation of SRI criteria that is integrated into a multi-o...
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This paper presents a novel framework for selecting socially responsible investment (SRI) portfolios. The Hedonic Price Method (HPM) is applied to obtain an evaluation of SRI criteria that is integrated into a multi-objective mathematical programming model. The HPM breaks away from the traditional view that goods are the direct object of utility;on the contrary, it assumes that utility is derived from the properties or characteristics of the goods themselves. As far as the investment decision is concerned, we assume that socially responsible investmentmutual funds (SRI funds) constitute heterogeneous goods. Our approach allows us to obtain a portfolio, the financial performance of which is similar to that which the investor would have reached if he or she had not taken into account social, ethical, and environmental considerations when making his or her investment decisions. This is achieved by designing a two-stage multi-objective mathematical programming procedure. In the first stage, we achieve the maximum level of financial satisfaction that the investor can receive. In the second stage, the portfolio with the best financial-social behavior is built. For the purpose of this second stage, the first stage portfolio is used as a benchmark for the financial performance of a socially responsible portfolio. To apply this methodology, we use portfolios composed of socially responsible and conventional mutual funds domiciled in Spain.
Community Based Organizations (CBOs) are important health system stakeholders with the mission of addressing the social and economic needs of individuals and groups in a defined geographic area, usually no larger than...
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Community Based Organizations (CBOs) are important health system stakeholders with the mission of addressing the social and economic needs of individuals and groups in a defined geographic area, usually no larger than a county. The access and success efforts of CBOs vary, depending on the integration between health care providers and CBOs but also in relation to the community participation level. To achieve widespread results, it is important to carefully design an efficient network which can serve as a bridge between the community and the health care system. This study addresses this challenge through a location-allocation model that deals with the hierarchical nature of the system explicitly. To reflect social welfare concerns of equity, local accessibility, and efficiency, we develop the model in a multi-objective framework, capturing the ambiguity in the decision makers' aspiration levels through a fuzzy goal programming approach. This study reports the findings for the real case of Shiraz city, Fars province, Iran, obtained by a thorough analysis of the results.
In this paper we study the problem of optimization over an integer efficient set of a multiple objective Integer Linear Stochastic programming problem. Once the problem is converted into a deterministic one by adaptin...
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In this paper we study the problem of optimization over an integer efficient set of a multiple objective Integer Linear Stochastic programming problem. Once the problem is converted into a deterministic one by adapting the 2-levels recourse approach, a new pivoting technique is applied to generate an optimal efficient solution without having to enumerate all of them. This method combines both techniques, the L-shaped method and the combined method developed in Chaabane and Pirlot (J Ind Manag Optim 6:811-823, 2010). A detailed didactic example is given to illustrate different steps of our algorithm.
Due to the relatively recent history of industrial insect farming, there are still no extensive studies on the optimization of insect production chains. In this context, the present work aims to be a first step in fil...
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ISBN:
(纸本)9781450392686
Due to the relatively recent history of industrial insect farming, there are still no extensive studies on the optimization of insect production chains. In this context, the present work aims to be a first step in filling this gap. A tentative set of mathematical models is proposed to take into account three different, conflicting objectives: maximizing economic viability, minimizing environmental impacts, and maximizing societal benefits. The state-of-the-art multi-objective algorithm NSGA-II is used to obtain an approximate Pareto fronts of solutions, that are later analyzed to identify suitable trade-offs. While preliminary, the results are encouraging enough for the computer-assisted design and development of sustainable insect production chains. Future works will take into account more extensive models, able to simulate scenarios in different European countries, and include parts of the chain such as transportation of goods to and from the production facilities.
Andre F. J. and Cardenete M. A. Designing efficient subsidy policies in a regional economy: a multicriteria decision-making (MCDM)-computable general equilibrium (CGE) approach, Regional Studies. Since policy-makers u...
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Andre F. J. and Cardenete M. A. Designing efficient subsidy policies in a regional economy: a multicriteria decision-making (MCDM)-computable general equilibrium (CGE) approach, Regional Studies. Since policy-makers usually pursue several conflicting objectives, policy-making can be understood as a multicriteria decision problem. Following the methodological proposal by Andre and Cardenete (2005), multi-objective programming is used in connection with a computable general equilibrium model to represent optimal policy-making and to obtain so-called efficient policies in an application to a regional economy (Andalusia, Spain). This approach is applied to the design of subsidy policies under two different scenarios. In the first scenario, it is assumed that the government is concerned just about two objectives: ensuring the profitability of a key strategic sector and increasing overall output. Finally, the scope of the exercise is enlarged by solving a problem with seven policy objectives, including both general and sectorial objectives. It is concluded that the observed policy could have been Pareto-improved in several directions.
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