Abstract:The paper considers multi-criteria dynamic decision process. We focus on the efficient realizations of the dynamic process which are characterized by nondominated values of the multi-period criteria function. The aim of the paper is to use the compromise hypersphere method to rank the efficient realizations. The presented method allows us to take into account the risk aversion of the decision maker. Moreover, we apply the presented theory in the market model taken from microeconomic theory. Index Terms-Dynamic… Show more
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