Efficiency versus sustainability in dynamic decision making. Advances in intertemporal compromising (Q1608631)

The main goal of this book is presentation dynamic decision models in different fields of application. Their structural properties are analyzed in order to develop a unified view on dynamic decision models with a basic classification of common features and differences. The book under review is divided into two parts. The first part is devoted to laying the decision theoretical foundation. An overview of the fundamentals of decision-making theory is given in Chapter 2. Chapter 3 introduces general concepts of multiobjective decision making focusing on the concept of dominance and efficiency and on the presentation of the well-known methods of compromise. These static decision models are theoretical fundamentals for dynamic ones presented in the next part of the book. The second part is divided into four chapters. The concept of dynamic decision-making is introduced in Chapter 4. Chapter 5 deals with dynamic decision models, which focus on one object of interest at one point of time. On the contrary, the dynamic decision models presented in Chapter 6 are genuinely dynamic, as the object of interest is considered at every point of time within the planning horizon. Chapter 7 proposes methodical enhancement for multiple objectives in dynamic decision-making. Chapter 8 contains final conclusions. All three-dimensional graphics are available the Internet. In my opinion, this is a modern monograph devoted to recent developments in dynamic decision-making theory.