A Risk-Aversion Approach for the Multiobjective Stochastic Programming Problem

Multiobjective stochastic programming is a field that is well suited to tackling problems that arise in many fields: energy, financial, emergencies, among others; given that uncertainty and multiple objectives are usually present in such problems. A new concept of solution is proposed in this work,...

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Detalles Bibliográficos
Autores: León Caballero, Javier, Puerto, Justo, Vitoriano Villanueva, Begoña
Tipo de recurso: artículo
Fecha de publicación:2020
País:España
Institución:Universidad Complutense de Madrid (UCM)
Repositorio:Docta Complutense
Idioma:inglés
OAI Identifier:oai:docta.ucm.es:20.500.14352/7579
Acceso en línea:https://hdl.handle.net/20.500.14352/7579
Access Level:acceso abierto
Palabra clave:519.852
519.856
Multiobjective stochastic programming
Linear programming
Risk-aversion
Programación lineal
Programación estocástica
Matemáticas (Matemáticas)
Procesos estocásticos
12 Matemáticas
1208.08 Procesos Estocásticos
Descripción
Sumario:Multiobjective stochastic programming is a field that is well suited to tackling problems that arise in many fields: energy, financial, emergencies, among others; given that uncertainty and multiple objectives are usually present in such problems. A new concept of solution is proposed in this work, which is especially designed for risk-averse solutions. The proposed concept combines the notions of conditional value-at-risk and ordered weighted averaging operator to find solutions protected against risks due to uncertainty and under-achievement of criteria. A small example is presented in order to illustrate the concept in small discrete feasible spaces. A linear programming model is also introduced to obtain the solution in continuous spaces. Finally, computational experiments are performed by applying the obtained linear programming model to the multiobjective stochastic knapsack problem, gaining insight into the behaviour of the new solution concept. g insight into the behaviour of the new solution concept.