Optimization Methods for a Stakeholder Society: A Revolution in Economic Thinking by Multi-objective Optimization / Edition 1

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For both public and private managers, the book Optimization Methods for a Stakeholder Society is today's key to answer the problem of a sustainable development world. This world has to take into account the meaning of all stakeholders involved and has to reconcile a number of objectives, such as economic growth, employment and preservation of the ecosystem. Traditional methods, such as cost-benefit, are outmoded as they translate all these objectives into monetary costs, a materialistic approach. On the contrary, objectives have rather to stick to their own units, eventually indicators. The author is in favor of the use of nonlinear methods in multi-objective optimization. Therefore, several nonlinear approaches are proposed, illustrated with many applications from different fields such as: privatization in the public sector, regional versus national economic policy in a country, location of a seaport, arms procurement, industrialization of a developing country, updating or replacement of old industry, pre- and post-evaluation of projects, performance management, marketing and distribution.

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Table of Contents

Introduction 1
Pt. 1 The Link with More Traditional Economics
Ch. 1 New economics against the history of economic thought 9
Ch. 2 Success and shortcomings of econometric models 17
Pt. 2 The Advent of New Economics
Ch. 1 Creative and prospective thinking 37
Ch. 2 Simulation and Sensitivity Analysis 65
Ch. 3 Scenario Writing 71
Pt. 3 New Economics for a Stakeholder Society
Ch. 1 Introduction to multiple objective utility theory 87
Ch. 2 Some traditional methods to approach the problem of multiple objectives 111
Ch. 3 Multifarious comparisons for objectives and attributes 125
Ch. 4 The indifference method 139
Ch. 5 How to optimize in a stakeholder society? 147
Pt. 4 Reference Point Theory a Method to Compare until Now Incomparable Alternatives
Ch. 1 Reference point theory as a solution for multiobjective utility 151
Ch. 2 Project planning, analysis and evaluation 171
Ch. 3 Reference point theory in seaport planning 189
Ch. 4 Privatization and reference point theory 205
Ch. 5 Marketing with multiple objectives for consumer goods with applications for a department store 215
Pt. 5 A Multiplicative Form for Multiobjective Optimization
Ch. 1 The multiplicative representation of multiobjective optimization 227
Ch. 2 The multiplicative representation in scenarios for an optimal economic policy in Belgium 247
Ch. 3 An application for arms procurement 261
Ch. 4 Multiplicative representation and project planning for a developing country 267
Ch. 5 An optimal input-output structure for a developing country such as Tanzania 281
Pt. 6 Ratio Analysis a Separate Method for Multiple Objectives Optimization?
Ch. 1 Mechanical methods and multiobjective optimization 293
Ch. 2 Ratio analysis for a department store 297
Ch. 3 Ratio analysis for arms procurement 311
Ch. 4 Ratio analysis and project planning for a developing country 317
Ch. 5 Conclusions on ratio systems 323
Ch. 6 General conclusions of the book 329
Index 337
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