Analysis of Production and Location Decisions by Means of Multi-Criteria Analysis
June 1979
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During the last few years economists and operations researchers have paid much attention to multi-criteria analysis as a tool in modern decision-making. The basic feature of multi-criteria analysis is the fact that a wide variety of relevant decision aspects can be taken into account without a necessity to translate all these aspects in monetary terms. This article will give a brief survey of these new methods in both a quantitative and in a qualitative sense. After this survey the relevance of multi-criteria analysis for entrepreneurial decisions in the field of production and investments will be exposed. The analysis will be illustrated by means of two examples of entrepreneurial decision-problems, which have been solved by means of multi-criteria analysis.
- programming
- goal programming
- solution
- model
- objective
- value
- method
- decision
- problem
- management
- analysis
- decision-maker
- function
- level
- nijkamp
- goal programming model
- planning
- matrix
- goal variables
- criteria
