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Multiple-criteria Decision Analysis
Multiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings such as business, government and medicine). Conflicting criteria are typical in evaluating options: cost or price is usually one of the main criteria, and some measure of quality is typically another criterion, easily in conflict with the cost. In purchasing a car, cost, comfort, safety, and fuel economy may be some of the main criteria we consider – it is unusual that the cheapest car is the most comfortable and the safest one. In portfolio management, managers are interested in getting high returns while simultaneously reducing risks; however, the stocks that have the potential of bringing high returns typically carry high risk of losing money. In a service industry, customer satisfaction and the cost of providing service are fundamenta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Pareto Efficient Frontier For The Markowitz Portfolio Selection Problem
Pareto may refer to: People * Vilfredo Pareto (1848–1923), Italian economist, political scientist, and philosopher, works named for him include: ** Pareto analysis, a statistical analysis tool in problem solving **Pareto distribution, a power-law probability distribution **Pareto efficiency **Pareto front, the set of all Pareto efficient solutions ** Pareto principle, or the 80-20 rule * Bartolomeo Pareto, medieval priest and cartographer from Genoa * Graziella Pareto (1889–1973), Catalan soprano * Lorenzo Pareto (1800–1865), Italian geologist and statesman * Paula Pareto (born 1986), Argentine judoka * Benedetto Pareto, builder of the Shrine of Nostra Signora della Guardia in Liguria, Italy Other uses * Pareto, Piedmont, a town in Italy * Pareto Group, a Norwegian finance company See also * Paret, a surname * Pereto Pereto (Marsicano: ') is a ''comune'' and town in the province of L'Aquila in the Abruzzo region of Italy. It was an ancient centre of the Mars ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Liu Sifeng
Liu Sifeng (; born 15 July 1955) is a Chinese systems engineer. He is the director of the Institute for Grey Systems Studies at Nanjing University of Aeronautics and Astronautics, Nanjing, China. He is best known for his work on grey system theory. Education and career Liu obtained his BE in Mathematics from Henan University in 1981, then his MS in Economics (1986) and PhD in Systems Engineering (1998) from Huazhong University of Science and Technology, Wuhan, China. He was the doctoral student of Julong Deng, the founder of grey system theory. Liu was appointed as a lecturer at Henan University in 1985. He was promoted through the ranks, reaching full professor in 1994. In 2000, he moved as a distinguished professor to Nanjing University of Aeronautics and Astronautics The Nanjing University of Aeronautics and Astronautics (NUAA, ), colloquially known as Nanhang (南航), is a public research university in Nanjing, China. One of the Seven Sons of National Defence, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Grey Relational Analysis
Grey relational analysis (GRA) was developed by Deng Julong of Huazhong University of Science and Technology. It is one of the most widely used models of grey system theory. GRA uses a specific concept of information. It defines situations with no information as black, and those with perfect information as white. However, neither of these idealized situations ever occurs in real world problems. In fact, situations between these extremes, which contain partial information, are described as being grey, hazy or fuzzy. A variant of GRA model, Taguchi-based GRA model, is a popular optimization method in manufacturing engineering. Definition Let X_0=\left(x_0\left(1\right),x_0\left(2\right),\dots ,x_0\left(n\right)\right) is an ideal data set andX_k=\left(x_k\left(1\right),x_k\left(2\right),\dots ,x_k\left(n\right)\right),k\mathrmm are the alternative data sets of the same length. The Grey Relational Grade (GRG) between the two data sets is given by _=\int^n_ where the Grey Relationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Deng Julong
Deng Julong (; January 1933 – June 22, 2013) was a professor of Huazhong University of Science and Technology, Wuhan, China. He is acknowledged as the founder of grey system theory, first proposed in 1982 with the publication of his paper “Control problems of grey systems,” in the international journal ''Systems and Control Letter'', edited at the time by Roger W. Brockett, a professor at Harvard University. This theory underlies the theory of grey relational analysis. His theory inspired many noted scholars like Jeffrey Yi-Lin Forrest, Liu Sifeng, and Keith W. Hipel, recipient of Izaak Walton Killam Memorial Prize.Liu, SF., Yang, Y., and Forrest, J. (2017). ''Grey Data Analysis''. Springer. Academic career The works of Professor Lotfi A. Zadeh significantly inspired Deng, and the uncertainty of the Deng Xiaoping era inspired him to work on uncertain systems. In 1965, he proposed the theory of multivariate system control. His academic paper, "an integrated approach ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Grey System Theory
Grey relational analysis (GRA) was developed by Deng Julong of Huazhong University of Science and Technology. It is one of the most widely used models of grey system theory. GRA uses a specific concept of information. It defines situations with no information as black, and those with perfect information as white. However, neither of these idealized situations ever occurs in real world problems. In fact, situations between these extremes, which contain partial information, are described as being grey, hazy or fuzzy. A variant of GRA model, Taguchi-based GRA model, is a popular optimization method in manufacturing engineering. Definition Let X_0=\left(x_0\left(1\right),x_0\left(2\right),\dots ,x_0\left(n\right)\right) is an ideal data set andX_k=\left(x_k\left(1\right),x_k\left(2\right),\dots ,x_k\left(n\right)\right),k\mathrmm are the alternative data sets of the same length. The Grey Relational Grade (GRG) between the two data sets is given by _=\int^n_ where the Grey Relationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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PAPRIKA
Paprika ( US , ; UK , ) is a spice made from dried and ground red peppers. It is traditionally made from '' Capsicum annuum'' varietals in the Longum group, which also includes chili peppers, but the peppers used for paprika tend to be milder and have thinner flesh. In some languages, but not English, the word ''paprika'' also refers to the plant and the fruit from which the spice is made, as well as to peppers in the Grossum group (e.g. bell peppers). All capsicum varieties are descended from wild ancestors in North America, in particular Central Mexico, where they have been cultivated for centuries. The peppers were subsequently introduced to the Old World, when peppers were brought to Spain in the 16th century. The seasoning is used to add color and flavor to many types of dishes in diverse cuisines. The trade in paprika expanded from the Iberian Peninsula to Africa and Asia and ultimately reached Central Europe through the Balkans, which was then under Ottoman rule. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Multi-attribute Utility
In decision theory, a multi-attribute utility function is used to represent the preferences of an agent over bundles of goods either under conditions of certainty about the results of any potential choice, or under conditions of uncertainty. Preliminaries A person has to decide between two or more options. The decision is based on the ''attributes'' of the options. The simplest case is when there is only one attribute, e.g.: money. It is usually assumed that all people prefer more money to less money; hence, the problem in this case is trivial: select the option that gives you more money. In reality, there are two or more attributes. For example, a person has to select between two employment options: option A gives him $12K per month and 20 days of vacation, while option B gives him $15K per month and only 10 days of vacation. The person has to decide between (12K,20) and (15K,10). Different people may have different preferences. Under certain conditions, a person's preferences c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Ordinal Data
Ordinal data is a categorical, statistical data type where the variables have natural, ordered categories and the distances between the categories are not known. These data exist on an ordinal scale, one of four levels of measurement described by S. S. Stevens in 1946. The ordinal scale is distinguished from the nominal scale by having a ''ranking''. It also differs from the interval scale and ratio scale by not having category widths that represent equal increments of the underlying attribute. Examples of ordinal data A well-known example of ordinal data is the Likert scale. An example of a Likert scale is: Examples of ordinal data are often found in questionnaires: for example, the survey question "Is your general health poor, reasonable, good, or excellent?" may have those answers coded respectively as 1, 2, 3, and 4. Sometimes data on an interval scale or ratio scale are grouped onto an ordinal scale: for example, individuals whose income is known might be grouped into the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Information And Computation
''Information and Computation'' is a closed-access computer science journal published by Elsevier (formerly Academic Press). The journal was founded in 1957 under its former name ''Information and Control'' and given its current title in 1987. , the current editor-in-chief is David Peleg. The journal publishes 12 issues a year. History ''Information and Computation'' was founded as ''Information and Control'' in 1957 at the initiative of Leon Brillouin and under the editorship of Leon Brillouin, Colin Cherry and Peter Elias. Murray Eden joined as editor in 1962 and became sole editor-in-chief in 1967. He was succeeded by Albert R. Meyer in 1981, under whose editorship the journal was rebranded ''Information and Computation'' in 1987 in response to the shifted focus of the journal towards theory of computation and away from control theory. In 2020, Albert Mayer was succeeded by David Peleg as editor-in-chief of the journal. Indexing All articles from the ''Information and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |