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An axiomatization of the Euclidean compromise solution
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An axiomatization of the Euclidean compromise solution

Mark Voorneveld, Anne van den Nouweland and Rich McLean
703
SSE/EFI Working Paper Series in Economics and Finance, 703, Stockholm School of Economics (SSE)
2008

Abstract

Consistency Euclidean compromise solution Multicriteria optimization C60 C61
The utopia point of a multicriteria optimization problem is the vector that specifies for each criterion the most favourable among the feasible values. The Euclidean compromise solution in multicriteria optimization is a solution concept that assigns to a feasible set the alternative with minimal Euclidean distance to the utopia point. The purpose of this paper is to provide a characterization of the Euclidean compromise solution. Consistency plays a crucial role in our approach.
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