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Title:An axiomatization of the Euclidean compromise solution PDF Logo
Authors:Voorneveld, Mark
van den Nouweland, Anne
McLean, Rich
Issue Date: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
Appears in Collections:SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics

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