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Multiobjective Optimization

  • Akio Matsumoto
  • Ferenc Szidarovszky
Chapter

Abstract

In the previous chapters we considered two types of cooperation of the players. In the first case, they form a grand coalition , obtain the largest possible overall payoff which is then divided among the players based on certain concepts of fairness. In the second case the players negotiate to reach a fair settlement. In many cases a third way of cooperation occurs. The players agree in selecting a third person, the mediator , who has the trust of the players and the right and duty of finding a final solution to be given to them. After the mediator reaches his decision, all players are obliged to accept it. In this case, we have a single decision maker, who takes the interests of all players into account simultaneously. If \(\phi _1, \ldots , \phi _N\) are the payoff functions of the players and higher value is better for all, then the role of the mediator is to find a satisfactory solution for the corresponding multiobjective optimization problem.

Keywords

Payoff Function Pareto Optimal Solution Important Player Decision Space Bargaining Solution 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© Springer Japan 2016

Authors and Affiliations

  1. 1.Department of EconomicChuo UniversityHachiojiJapan
  2. 2.Department of Applied MathematicsUniversity of PécsPécsHungary

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