Multicriteria Forest Decisionmaking under Risk with Goal-Programming Markov Decision Process Models

A multicriteria competitive Markov decision process

In this paper, we deal with a multicriteria competitive Markov decision process. In the decision process there are two decision makers with a competitive behaviour, so they are usually called players. Their rewards are coupled because depend on the actions chosen by both players in each state of the process. We propose as solution of this game the set of Pareto-optimal security strategies for a...

Robust multicriteria risk-averse stochastic programming models

In this paper, we study risk-averse models for multicriteria optimization problems under uncertainty. We use a weighted sum-based scalarization and take a robust approach by considering a set of scalarization vectors to address the ambiguity and inconsistency in the relative weights of each criterion. We model the risk aversion of the decision makers via the concept of multivariate conditional ...

Relating decision under uncertainty and multicriteria decision making models

This short overview paper points out the striking similarity between decision under uncertainty and multicriteria decision making problems, two areas which have been developed in an almost completely independent way until now. This pertains both to additive and non-additive (including qualitative) approaches existing for the two decision paradigms. This leads to emphasize the remarkable formal ...

A Markov Decision Process Approach with Embedded Stochastic Programming

The main objective of electric power dispatch is to provide electricity to the customers at low cost and high reliability. Transmission line failures constitute a great threat to the electric power system security. We use a Markov decision process (MDP) approach to model the sequential dispatch decision making process where demand level and transmission line availability change from hour to hou...

Goal Management in Organizations: A Markov Decision Process (MDP) Approach