Authors: J-C. Panayiotopoulos; P.M. Petrantonakis; S. Hadjidema
Addresses: Department of Informatics, University of Piraeus, 80, Karaoli & Dimitriou Street, Piraeus 185 34, Greece ' Department of Informatics, University of Piraeus, 80, Karaoli & Dimitriou Street, Piraeus 185 34, Greece ' Department of Economics, University of Piraeus, 80, Karaoli & Dimitriou Street, Piraeus 185 34, Greece
Abstract: Investing in new products without history is a dangerous task. The investment is even more risky in the case of irregular dynamic data space (ID2S), where data change within a given planning horizon in an unknown way. Unfortunately, today all data spaces are or tend to become ID2S. Consequently, an optimal solution based on present data is possible to become a complete disaster within our planning horizon. We will not only get a maximum profit, but we will lose and our initial budget too. The present work proposes some new considerations on investment theory based on a new multi-criteria model in order to avoid black investment holes. Also, crisis management and mutative-oriented programming is used.
Keywords: multiobjective mathematical programming; mutative oriented programming; multicriteria decision making; MCDM; uncertainty; bilevel programming; investment theory; irregular dynamic data space; risk assessment; risk modelling; crisis management; emergency management; investment decision making; investment risk.
International Journal of Multicriteria Decision Making, 2013 Vol.3 No.1, pp.55 - 64
Received: 16 Feb 2012
Accepted: 21 Jun 2012
Published online: 05 Mar 2013 *