Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/56342
Authors: 
Voorneveld, Mark
van den Nouweland, Anne
McLean, Rich
Year of Publication: 
2008
Series/Report no.: 
SSE/EFI Working Paper Series in Economics and Finance 703
Abstract: 
The utopia point of a multicriteria optimization problem is the vector that specifies for each criterion the most favourable among the feasible values. The Euclidean compromise solution in multicriteria optimization is a solution concept that assigns to a feasible set the alternative with minimal Euclidean distance to the utopia point. The purpose of this paper is to provide a characterization of the Euclidean compromise solution. Consistency plays a crucial role in our approach.
Subjects: 
Consistency
Euclidean compromise solution
Multicriteria optimization
JEL: 
C60
C61
Document Type: 
Working Paper

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