Dynamic approach to multiple-objective resource allocation problem

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalpeer-review

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Author(s)

  • K. K. Lai
  • Lushu Li

Related Research Unit(s)

Detail(s)

Original languageEnglish
Pages (from-to)293-309
Journal / PublicationEuropean Journal of Operational Research
Volume117
Issue number2
Publication statusPublished - 1 Sep 1999

Abstract

A new approach using dynamic programming is developed for solving the multiple-objective resource allocation problem. There are two key issues being addressed in this approach. The first one is to develop a methodology of fuzzy evaluation and fuzzy optimization for multiple-objective systems. The procedure of getting the marginal evaluation for each objective and aggregating them synthetically into a global evaluation is presented in this paper. The second one is to design a dynamic optimization algorithm by incorporating the method of fuzzy evaluation and fuzzy optimization with the conventional dynamic programming technique. A characteristic feature of the approach presented is that various objectives are synthetically considered by the fuzzy systematic technique instead of the frequently employed weighted-average method. Numeric examples are also given to clarify the developed approach and to demonstrate its effectiveness.