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Solving electronic spreadsheet models by interactive multicriterion optimization: a budgeting illustration

Author

Listed:
  • M D Troutt

    (Kent State University)

  • B K Yew

    (Arkansas Tech University)

  • A Zhang

    (Southern Illinois University)

Abstract

In previous papers a connection between general spreadsheet models and interactive multicriterion optimization has been discussed. The purpose of the present paper is to provide proof of the concept with a detailed example. The main idea is that interactive multicriterion optimization can be viewed as a new way of interacting with spreadsheet models. It offers advantages over the two prevailing ones, namely what-if and goal-seeking. A simplified budgeting example is given to clarify this connection. Directions of improvement are assumed to be provided by the decision maker using one of the several existing methods. One improvement iteration is illustrated and analyzed following the method of Loganathan and Sherali.

Suggested Citation

  • M D Troutt & B K Yew & A Zhang, 2001. "Solving electronic spreadsheet models by interactive multicriterion optimization: a budgeting illustration," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 52(5), pages 576-583, May.
    • Handle: RePEc:pal:jorsoc:v:52:y:2001:i:5:d:10.1057_palgrave.jors.2601125
    DOI: 10.1057/palgrave.jors.2601125
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