IDEAS home Printed from https://ideas.repec.org/a/eee/jomega/v7y1979i3p249-255.html
   My bibliography  Save this article

On solutions that are better than most

Author

Listed:
  • Baum, Sanford
  • Carlson, Robert

Abstract

A programmatic approach to solving decision problems by the use of 'better than most' (BTM) solutions is introduced. The BTM approach is contrasted to approaches that seek a solution whose outcome would be the best of all outcomes for feasible solutions, again according to criteria taken to represent the decision maker's objectives. This BTM approach is illustrated in terms of a decision problem in binary decision variables. This is followed by a discussion of (1) some of the probabilistic aspects of BTM solutions, including calculational experience, (2) a central BTM problem, akin to the problem of finding optimal methods in the more traditional approaches, (3) some ad hoc methods for overcoming this and other problems associated with the BTM approach, and (4) similarities and differences between the BTM approach and other approaches.

Suggested Citation

  • Baum, Sanford & Carlson, Robert, 1979. "On solutions that are better than most," Omega, Elsevier, vol. 7(3), pages 249-255.
    • Handle: RePEc:eee:jomega:v:7:y:1979:i:3:p:249-255
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/0305-0483(79)90060-4
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. E A Silver, 2004. "An overview of heuristic solution methods," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 55(9), pages 936-956, September.
    2. Richard L Church & Carlos A Baez, 2020. "Generating optimal and near-optimal solutions to facility location problems," Environment and Planning B, , vol. 47(6), pages 1014-1030, July.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jomega:v:7:y:1979:i:3:p:249-255. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/375/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.