Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Screening and Sufficiency in Multiobjective Decision Problems With Large Alternative Sets

Screening and Sufficiency in Multiobjective Decision Problems With Large Alternative Sets

Cote, Michael D.

Paperback

Business GeneralManagementGeneral Education

ISBN10: 1288306873
ISBN13: 9781288306879
Publisher: Biblioscholar
Published: Nov 16 2012
Pages: 126
Weight: 0.41
Height: 0.27 Width: 6.14 Depth: 9.21
Language: English

Portfolio selection problems with combinatorially-large alternative sets can be impossible to evaluate precisely on a reasonable timescale. When portfolios require complex modeling for performance assessment, prohibitive computational processing times can result. Eliminating a small number of alternatives through an intelligent screening process can greatly reduce the number of alternative combinations, thereby decreasing a problem's evaluation time and cost. A methodology was developed for the class of hierarchical portfolio selection problems in which multiple objectives are all judged on the same sub-objectives. First, a novel capability-based alternative screening process was devised to identify and remove poor alternatives, thereby reducing the number of portfolios. Then, a performance-based portfolio screening process was explored to estimate portfolio sufficiency according to the performance requirements of the decision maker. Following the establishment of a set of sufficient portfolios, the analyst can employ higher resolution post-analysis methods to choose a final solution. Finally, the methodology was applied to a portfolio selection problem in which the United States Strategic Command attempts to select an ideal mix of intelligence, surveillance, and reconnaissance assets. After deconstructing the actual objective hierarchy, a set of representative alternatives were evaluated and a variety of screening procedures were applied to demonstrate significant reduction in the number of possible portfolios.

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