We introduce a new distance measure between two preorders that captures indifference, strict preference, weak preference and incomparability relations. This measure is the first to capture weak preference relations. We illustrate how this distance measure affords decision makers greater modeling...

This paper proposes a new nonlinear interval programming method that can be used to handle uncertain optimization problems when there are dependencies among the interval variables. The uncertain domain is modeled using a multidimensional parallelepiped interval model. The model depicts...

In our previous work published in this journal, we showed how the Hit-And-Run (HAR) procedure enables efficient sampling of criteria weights from a space formed by restricting a simplex with arbitrary linear inequality constraints. In this short communication, we note that the method for...

The stochastic variability measures the degree of uncertainty for random demand and/or price in various operations problems. Its ordering property under mean-preserving transformation allows us to study the impact of demand/price uncertainty on the optimal decisions and the associated objective...

We study a mean-risk model derived from a behavioral theory of Disappointment with multiple reference points. One distinguishing feature of the risk measure is that it is based on mutual deviations of outcomes, not deviations from a specific target. We prove necessary and sufficient conditions...

The expected returns for securities are traditionally estimated as crisp values. Since the improper values may bring on an unsuccessful investment decision, portfolio experts generally prefer offering interval estimations for expected returns rather than crisp ones. The portfolio selection...

Today’s forecasting techniques, which are integrated into several information systems, often use ensembles that represent different scenarios. Aggregating these forecasts is a challenging task: when using the mean or median (common practice), important information is lost, especially if the...

Most developed countries support farming activities through policies that are tailored to meet their specific social, economic and environmental objectives. Economic and environmental efficiency have recently become relevant targets of most of these policies, whose sound implementation can be...