Search results
Results from the WOW.Com Content Network
Points A and B are not strictly dominated by any other, and hence lie on the frontier. A production-possibility frontier. The red line is an example of a Pareto-efficient frontier, where the frontier and the area left and below it are a continuous set of choices. The red points on the frontier are examples of Pareto-optimal choices of production.
Multi-objective optimization or Pareto optimization (also known as multi-objective programming, vector optimization, multicriteria optimization, or multiattribute optimization) is an area of multiple-criteria decision making that is concerned with mathematical optimization problems involving more than one objective function to be optimized simultaneously.
Given a set of choices and a way of valuing them, the Pareto front (or Pareto set or Pareto frontier) is the set of choices that are Pareto-efficient. By restricting attention to the set of choices that are Pareto-efficient, a designer can make trade-offs within this set, rather than considering the full range of every parameter.
The term Tradespace was first applied in this context in 2003 by QBOS, Inc. as a way of signifying the relevance of the term in its above context to the search for equilibria (the Pareto frontier) in a collection of processes spanning multiple organizations where those organizations each have their own seven-sigma core objectives.
Utility Possibility Frontier. In welfare economics, a utility–possibility frontier (or utility possibilities curve), is a widely used concept analogous to the better-known production–possibility frontier. The graph shows the maximum amount of one person's utility given each level of utility attained by all others in society. [1]
A Pareto chart is a type of chart that contains both bars and a line graph, where individual values are represented in descending order by bars, and the cumulative total is represented by the line. The chart is named for the Pareto principle , which, in turn, derives its name from Vilfredo Pareto , a noted Italian economist.
If there exists a network which is not Pareto dominated by another network then it is a Pareto efficient network. In the figure "An Example of Efficient, Pareto Efficient, and Pairwise Stable Networks in a Four Person Society" an example with four players is given, where the payoffs of the players are noted by the numbers next to the nodes.
Vilfredo Pareto (1848–1923), Italian economist, political scientist, and philosopher, works named for him include: Pareto analysis, a statistical analysis tool in problem solving; Pareto distribution, a power-law probability distribution; Pareto efficiency; Pareto front, the set of all Pareto efficient solutions; Pareto principle, or the 80 ...