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A λ-cut approximate algorithm for goal-based bilevel risk management systems

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Open access
Authors
Gao, Y.
Zhang, G.
Lu, J.
Dillon, Tharam S.
Zeng, X.
Date
2008
Type
Journal Article

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Gao, Ya and Zhang, Guangquan and Lu, Jie and Dillon, Tharam and Zeng, Xianyi. 2008. A λ-cut approximate algorithm for goal-based bilevel risk management systems. International Journal of Information Technology and Decision Making. 7 (4): pp. 589-610.
Source Title
International Journal of Information Technology and Decision Making
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Faculty
Curtin Business School
School of Information Systems
School
Centre for Extended Enterprises and Business Intelligence
Remarks

Electronic version of an article published as International Journal of Information Technology and Decision Making, Volume 7, Issue 4, 2008, pp. 589-610. DOI: 10.1142/S0219622008003113. Copyright © 2008 World Scientific Publishing Co. All rights reserved. Journal URL: http://ideas.repec.org/s/wsi/ijitdm.html.

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Abstract

Bilevel programming techniques a re developed for decentralised decision problems with decision makers located in two levels. Both upper and lower decision makers, termed as leader and follower, try to optimize their own objectives in solution procedure but are affected by those of the other levels. When a bilevel decision model is built with fuzzy codlicients and the leader and/or follower have goals for their objectives, we call it fuzzy goal bilevel (FGBL) decision problem. This paper first proposes a A-cut set based FGBL model. A programmable A-CUt approximate algorithm is then presented in detail. Based on this algorithm, a FCBL software system is developed to reach solutions for FGBL decision problems. Finally, two examples are given to illustrate the application of the proposed algorithm.