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Optimization Methods for a Stakeholder Society : A Revolution in Economic Thinking by Multi-objective Optimization - Willem K. Brauers

Optimization Methods for a Stakeholder Society

A Revolution in Economic Thinking by Multi-objective Optimization


Published: 30th November 2003
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For both public and private managers, the book Optimization Methods for a Stakeholder Society is today's key to answer the problem of a sustainable development world. This world has to take into account the meaning of all stakeholders involved and has to reconcile a number of objectives, such as economic growth, employment and preservation of the ecosystem. Traditional methods, such as cost-benefit, are outmoded as they translate all these objectives into monetary costs, a materialistic approach. On the contrary, objectives have rather to stick to their own units, eventually indicators.

Introductionp. 1
Which economicsp. 1
The aim of this workp. 2
Notes introductionp. 5
The Link with More Traditional Economics
New economics against the history of economic thoughtp. 9
Classical economists about objectivesp. 9
General economic interdependencep. 9
The partial approachp. 10
The rise of mathematics in economicsp. 12
Notes chapter 1p. 14
Success and shortcomings of econometric modelsp. 17
Significance of econometric modelsp. 17
Definition of I/O and its relation to the Walrasian systemp. 20
SAM and General Equilibrium Modelsp. 21
The stability of the technical coefficients and the inverse matrixp. 22
Structural changes and Input-Outputp. 24
Benchmarking and Input-Outputp. 26
Multiple objectives and multiple units in input-output analysisp. 26
Conclusions about traditional model building for applicationp. 28
Notes chapter 2p. 30
The Advent of New Economics
Creative and prospective thinkingp. 37
Some preliminary definitionsp. 37
Open discussion methodsp. 38
Nominal methodsp. 39
Nominal Group Techniquep. 44
The Cross-Impact Techniquep. 47
A nominal group technique on the economic situation of the developing countries over the period 1987-1996p. 49
Application for the economic situation of Lithuania over the period (2002-2011)p. 53
Nominal Group Technique on the business outlook of the facilities sector of Lithuania over the period (2003-2012)p. 55
Notes chapter 1p. 61
Simulation and Sensitivity Analysisp. 65
Categories of Simulationp. 65
Parametric Analogsp. 68
Sensitivity Analysisp. 69
Notes chapter 2p. 70
Scenario Writingp. 71
Origin and classificationp. 71
How to write Scenarios?p. 71
Some weak points of Scenario Writingp. 73
Economic policy in Tanzania with different input-output scenarios as a basisp. 75
Scenarios for Lithuania 2002 - 2011p. 77
Scenarios for the future of the facilities sector of Lithuania 2003 - 2012p. 81
Notes chapter 3p. 83
New Economics for a Stakeholder Society
Introduction to multiple objective utility theoryp. 87
Why from old to new economics?p. 87
Value or utility? The risk problemp. 89
Multiple Objective Utility Theory inside the theory of the statistical universep. 91
Measurement of attributes by indicatorsp. 93
Measurement of qualityp. 97
Hierarchy of objectives. What does hierarchy mean?p. 99
A hierarchy of objectives for the Democratic Republic of Congop. 100
Conflict resolutionp. 105
Instruments for a new economic policyp. 105
Notes chapter 1p. 107
Some traditional methods to approach the problem of multiple objectivesp. 111
Cost-Benefit Analysis and Decision Tree Analysisp. 111
Cost-Effectiveness Analysis and Fractional Programmingp. 112
The Scorecard Methodp. 113
The weighting conceptp. 114
The approach based on a series of binary comparisonsp. 118
Notes chapter 2p. 123
Multifarious comparisons for objectives and attributesp. 125
The approach of a complete a priori priority between the multifariously compared objectivesp. 125
The filtering stagep. 128
The possibility of a dominance stagep. 129
Dominance and the law of decreasing marginal utilityp. 131
Notes chapter 3p. 137
The indifference methodp. 139
The filtering stage of the indifference methodp. 139
The indifference stage of the indifference methodp. 139
Case study: the indifference method for arms procurementp. 143
Notes chapter 4p. 145
How to optimize in a stakeholder society?p. 147
Reference Point Theory a Method to Compare Until Now Incomparable Alternatives
Reference point theory as a solution for multiobjective utilityp. 151
The ranking stage for the until now incomparablep. 151
Generalization for the until now incomparable alternativesp. 152
Indifference curve analysis and reference point theoryp. 153
Consideration of the Maximal Criterion Reference Pointp. 157
The Utopian Criterion Vector and the Aspiration Criterion Vectorp. 158
The normalization of attributes in reference point theoryp. 158
How to measure the distance between the discrete points of the alternatives and the reference point?p. 159
The problem of an efficient point that is not proper efficient and the reference point theoryp. 161
Is there a the danger of a reverse order?p. 162
Alternatives generated during the process: the continuous casep. 163
Conclusionsp. 164
Case study: how to choose a wife?p. 165
Notes chapter 1p. 169
Project planning, analysis and evaluationp. 171
An example of project planningp. 171
The objectives for project planningp. 172
The selection of the projectp. 172
Different competing projectsp. 175
Multiple objectives in industrial managementp. 178
Project evaluationp. 183
Notes chapter 2p. 187
Reference point theory in seaport planningp. 189
Comparison of effectiveness of different concepts of seaports in an analytical and prospective way, including new developmentsp. 189
The filtering stage in seaport planningp. 190
The ranking stage in seaport planningp. 194
Appraisal of projects for the installation of a container terminal in a seaport of a developing countryp. 196
Notes chapter 3p. 204
Privatization and reference point theoryp. 205
The problemp. 205
The filtering stage in the case of privatizationp. 206
An indifference stage in privatizationp. 206
Simulation exercise for privatization in Ukrainep. 207
Some practical consequences of application of reference point theory for privatizationp. 211
Notes chapter 4p. 213
Marketing with multiple objectives for consumer goods with applications for a department storep. 215
Objectives for a department storep. 215
Filtering and normalization in the case of a department storep. 215
The application of the reference point theory with maximal criterion values for a department storep. 219
A chance for an in-between alternativep. 220
Conclusions about reference point theory in connection with the expansion of a department storep. 222
Notes chapter 5p. 223
A Multiplicative Form for Multiobjective Optimization
The multiplicative representation of multiobjective optimizationp. 227
Forms of the utility functionp. 227
Bilinear and multilinear formsp. 228
The full-multiplicative formp. 229
What about the unit of utility u[subscript j]?p. 231
An illustrative applicationp. 232
Is normalization still necessary?p. 233
Objectives moving in a different directionp. 236
An illustrative example with objectives moving in a different directionp. 237
Multiplicative form on the basis of geometric meansp. 238
The danger of a reverse order in the multiplicative formp. 238
Attributes of objectives raised to powersp. 239
Some restrictions of the multiplicative representationp. 243
Notes chapter 1p. 244
The multiplicative representation in scenarios for an optimal economic policy in Belgiump. 247
Political and economic structure of Belgiump. 247
Eleven scenarios for an optimal economic growth in Belgiump. 248
The ranking after the application of the multiplicative representationp. 250
Is it possible to stress the importance of some objectives?p. 253
Relevance of attributes raised to powers for an optimal Belgian economic policyp. 254
Conclusionsp. 258
Notes chapter 2p. 259
An application for arms procurementp. 261
The application of the full-multiplicative formp. 261
Does there exist a danger for a reverse order?p. 263
Conclusions concerning the choice of a fighter plane in Belgiump. 265
Notes chapter 3p. 266
Multiplicative representation and project planning for a developing countryp. 267
A national investment board in a developing countryp. 267
The filtering stage in project planning for a developing countryp. 269
Indifference or ranking in project planning for a developing countryp. 270
Notes chapter 4p. 279
An optimal input-output structure for a developing country such as Tanzaniap. 281
Some characteristics of input- output in developing countriesp. 281
Economic policy with several input-output scenarios as a basis in a developing countryp. 282
Linkages between the scenarios and the economic policy of Tanzaniap. 285
Conclusionsp. 287
Notes chapter 5p. 289
Ratio Analysis a Separate Method for Multiple Objectives Optimization?
Mechanical methods and multiobjective optimizationp. 293
Ratio analysis a new approach?p. 293
The choice between different ratio systemsp. 293
Ratio analysis applied for multiobjective optimizationp. 295
Notes chapter 1p. 296
Ratio analysis for a department storep. 297
One of the alternatives is taken as a referencep. 297
The Van Delft and Nijkamp method of maximum valuep. 298
The Van Delft and Nijkamp method of square rootsp. 298
The Voogd ratiosp. 299
Some methods of ratio analysis applied for a department storep. 301
The Voogd ratios and the Van Delft and Nijkamp method of square roots applied for a department storep. 307
Ratio analysis for arms procurementp. 311
The choice of fighter planesp. 311
Ratios analysis as applied for arms procurementp. 313
Conclusions on arms procurementp. 316
Ratio analysis and project planning for a developing countryp. 317
The policy of a national investment board in a developing countryp. 317
The indifference or the ranking stage with ratio analysis for a developing countryp. 318
Conclusions on ratio systemsp. 323
Choice of ratiosp. 323
Significance of the ratio systemp. 324
The ratio system as a new method for multiobjective optimizationp. 324
Notes chapter 5p. 328
General conclusions of the bookp. 329
Indexp. 337
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9781402076817
ISBN-10: 1402076819
Series: Nonconvex Optimization and Its Applications
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 342
Published: 30th November 2003
Publisher: Springer-Verlag New York Inc.
Country of Publication: US
Dimensions (cm): 23.5 x 15.5  x 3.18
Weight (kg): 1.49