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A generalized behavioral-based goal programming approach for decision-making under imprecision
- Source :
- Operations Research Perspectives, Vol 13, Iss , Pp 100316- (2024)
- Publication Year :
- 2024
- Publisher :
- Elsevier, 2024.
-
Abstract
- The body of literature on goal programming (GP) approaches in modeling preferences and the satisfaction philosophy in multi-objective programming (MOP) decision-making processes is extensive. However, there has been little focus on how preferences change in relation to the decision-maker's (DM) behavior within this satisfaction philosophy, particularly in situations involving risk. To address this challenge, we propose introducing a behavior-type utility function into the GP model using the concept of a behavior function. This idea offers an innovative perspective for modeling DM's behavioral preferences in the imprecise GP approach by integrating a risk-aversion parameter specific to each objective. We then formulate a generalized behavioral-based GP approach for decision-making based on this new behavior-type utility function. To validate our proposed approach, we present an illustrative example of project selection in health service institutions, followed by a sensitivity analysis and comparisons with other approaches. The results demonstrate that DM's behavioral preferences significantly impact the decision-making process, and the proposed model provides more reasonable and convenient decisions for DMs with varying degrees of risk aversion.
Details
- Language :
- English
- ISSN :
- 22147160
- Volume :
- 13
- Issue :
- 100316-
- Database :
- Directory of Open Access Journals
- Journal :
- Operations Research Perspectives
- Publication Type :
- Academic Journal
- Accession number :
- edsdoj.bd69877dac5040398d97c176c09d4c2a
- Document Type :
- article
- Full Text :
- https://doi.org/10.1016/j.orp.2024.100316