Guessing Pareto Solutions: A Test

In yesterday’s post, I described a simple multiple-criterion decision problem (binary decisions, no constraints), and suggested a possible way to identify a portion of the Pareto frontier using what amounts to guesswork: randomly generate weights; use them to combine the multiple criteria into a single objective function; optimize that (trivial); repeat ad nauseam. I ran …

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Guessing Pareto Solutions

One of the challenges of multiple-criteria decision-making (MCDM) is that, in the absence of a definitive weighting or prioritization of criteria, you cannot talk meaningfully about a “best” solution. (Optimization geeks such as myself tend to find that a major turn-off.) Instead, it is common to focus on Pareto efficient solutions. We can say that …

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