Skip to main content
SpringerLink
Log in

Efficiency versus Sustainability in Dynamic Decision Making

Advances in Intertemporal Compromising

  • Book
  • © 2002

Overview

Authors:
  1. Bodo Glaser

    1. Department of Business Administration and Economics, University of Saarland, Saarbrücken, Germany

    View author publications

    You can also search for this author in PubMed   Google Scholar

Part of the book series: Lecture Notes in Economics and Mathematical Systems (LNE, volume 520)

This is a preview of subscription content, log in via an institution to check access.

Access this book

Log in via an institution
eBook USD 39.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 54.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access

Licence this eBook for your library

Institutional subscriptions

Table of contents (8 chapters)

  1. Front Matter

    Pages I-IX
    Download chapter PDF

  2. Introduction

    1. Introduction

      • Bodo Glaser
      Pages 1-3

  3. Decision Theoretical Foundation

    1. Front Matter

      Pages 5-5
      Download chapter PDF

    2. Fundamentals of Decision Making

      • Bodo Glaser
      Pages 7-20

    3. Fundamentals of Multi-criteria Decision Making

      • Bodo Glaser
      Pages 21-73

  4. Dynamic Decision Making

    1. Front Matter

      Pages 75-75
      Download chapter PDF

    2. Fundamentals of Dynamic Decision Making

      • Bodo Glaser
      Pages 77-90

    3. Type A Objective: ’The Destination Matters’

      • Bodo Glaser
      Pages 91-106

    4. Type B Objective: ’The Journey is the Goal’

      • Bodo Glaser
      Pages 107-189

    5. Multiple Objectives in Dynamic Decision Making

      • Bodo Glaser
      Pages 191-224

    6. Concluding Remarks

      • Bodo Glaser
      Pages 225-228

  5. Back Matter

    Pages 229-254
    Download chapter PDF
Back to top

Keywords

About this book

To all who taught me, and to all who will. Over the past fifteen years the notions of efficiency and sustainability have, more than any others, influenced the academic and public discussion concerning the intertemporal allocation of resources, especially as regards the economics of growth and environment. This treatise formally develops and counterposes these notions by means of the construct of a trajectorial objective, which is here developed, along with its implications, as a natural advance upon the classical scalar objective. In the course of this study it becomes clear that efficiency and sustainability are by no means identical, given that efficiency, on the one hand, is the concept for avoiding wasteful behavior, and sustainability, on the other, is the concept for ensuring that certain critical aspiration levels, which usually reflect the wish for survival, are maintained. Nonetheless, contrary to what may be assumed, these two concepts do not generally yield mutually exclusive solutions; in fact, they can be combined to complement each other in the quest for unimprovable long-term solutions which sustain given and necessary aspiration levels. This treatise develops and analyzes dynamic decision models (DDM) with one trajectorial objective according to the methodology of multi­ criteria decision making (MCDM). Moreover, introducing the method of distance maximization crucially augments MCDM and proves to be invaluable for DDMs in the case of a nonexistent utopia trajectory as well as in the case of sustainability as objective.

Authors and Affiliations

  • Department of Business Administration and Economics, University of Saarland, Saarbrücken, Germany

    Bodo Glaser

Bibliographic Information

Publish with us

Policies and ethics

Back to top

Search

Navigation