A Study on the Utility Function with a Goal-Vector Approach

Abstract

A goal-vector approach, which is one of the mathematical programming techniques, can be used to achieve multiple conflicting goals well-balanced. The open-L utility function with a goal-vector approach is approximately assumed to be an alternative of the non-linear utility function, which is usually used by a decision maker. In this paper, the relation between the type of moment p of a distance function and the parameter β with a goal-vector approach is discussed, when p-norm function as a non-linear utility function is used. Then a decision maker with p-norm utility function can apply a goal-vector approach to practical planning problems.