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QUADRATIC PREFERENCES AND GOAL PROGRAMMING
Author(s) -
Shim Jae K.,
Siegel Joel
Publication year - 1975
Publication title -
decision sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.238
H-Index - 108
eISSN - 1540-5915
pISSN - 0011-7315
DOI - 10.1111/j.1540-5915.1975.tb01051.x
Subject(s) - goal programming , quadratic programming , mathematical optimization , preference , computer science , sequential quadratic programming , constant (computer programming) , function (biology) , linear programming , quadratic equation , substitution (logic) , mathematical economics , mathematics , programming language , statistics , geometry , evolutionary biology , biology
One of the shortcomings of goal programming lies in its linearity , assumption, specifically in the objective function. This assumption compels one to work with constant marginal utilities and rates of substitution. In this paper a quadratic preference function, which is more consistent with economic theory and reality, is formulated and introduced into goal programming. In an effort to facilitate the understanding of the proposed procedure, two illustrative examples—one with symmetric preferences and the other with asymmetric preferences, both applied to the objective function—are solved and compared with a goal programming solution.