Stochastic versus possibilistic programming

DOI10.1016/0165-0114(90)90156-ZMaRDI QIDQ584073zbMATH OpenFDO

Authors James J. Buckley

Publication date 1990

Published in Fuzzy Sets and Systems (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0165-0114(90)90156-Z

zbMATH Keywords

compromise solutiondecision procedurefuzzy coefficientsmulticriterial optimizationpossibilistic programmingstochastic linear programming

Mathematics Subject Classification ID

Theory of fuzzy sets, etc. (03E72) Stochastic programming (90C15) Sensitivity, stability, parametric optimization (90C31)

Review text

A distribution problem of stochastic linear programming is compared with that of finding the possibility distribution of the optimal value for a linear program with fuzzy coefficients. For understanding the arguments one has to follow carefully the evolution in the meaning of the symbols and attributes. For choosing a decision x, the author considers two objective functions to be maximized: The probability/possibility that x is feasible and the probability/possibility that the optimal value exceeds a given target value. Without any details concerning numerical tractability he suggests to use standard techniques of multicriterial optimization to find a compromise solution. The verbal description of a possible decision procedure (as spelled out in conclusions) is misleading.

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Cites work

• Fuzzy sets as a basis for a theory of possibility
• scientific article; zbMATH DE number 3137856 (Why is no real title available?)
• Proper efficiency and the theory of vector maximization
• Solving possibilistic linear programming problems
• The concept of a linguistic variable and its application to approximate reasoning. I

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(19)

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• Possibilistic linear programming: A brief review of fuzzy mathematical programming and a comparison with stochastic programming in portfolio selection problem
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• Application of fuzzy sets to manufacturing/distribution planning decisions in supply chains
• Robust optimization approaches for portfolio selection: a comparative analysis
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• A new method to solve multi-objective linear fractional programming problem in fuzzy stochastic environment
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