Beyond Pareto Optimality

Revision with unchanged content. During the last few decades, multiobjective programming has received much attention for its numerous theoretical advances and successes in modeling and solving real-life decision problems in business and engineering. In extension of the classic but static concept of Pareto optimality, this book presents the more flexible notion of domination leading to novel optimization methods and enhanced decision making. After some preliminaries and review of the relevant literature, several new findings are presented that characterize nondominated sets in general vector optimization which are defined in terms of cones. Based on these results, an interactive decomposition-coordination framework is developed for the effective solution of multi-scenario or large-scale multiobjective programs arising in portfolio optimization and engineering design. The text will introduce researchers and practitioners alike to a current topic of high relevance in multiobjective programming and decision making. For his original dissertation, the author won the First Prize Outstanding Graduate Research Awards by both the College of Engineering and Science and the Graduate School of Clemson University in April 2007.