Multiple Objectives in Dynamic Decision Making

Abstract

Within the framework of Dynamic Decision Making the two preceding Chapters 5 and 6 are designed as to distinctly characterize scalar objectives (Type A objectives) on the one side, and trajectorial objectives (Type B objectives) on the other, as well as to clearly mark the differences between them. A Type A objective is scalar per definitionem, and therefore does naturally not bring up the notion of multiple decision makers. Neither does a Type B objective, even though it very much suggests employing the MCDM methodology: This is because the object of consideration is one decision maker who has to deal with one objective along the time line, i.e. the decision maker has multiple objectives stemming from the intertemporal decision making problem — the idea of multiple decision makers each having one scalar objective at exactly one distinct point of time within the planning horizon can merely serve as a thought experiment to approach a solution to the problem of intertemporal decision making.